No addition shall be made u/s 68 of Income tax act on basis of statement of third party with respect to Sale of Shares carried through proper Banking Channel: ITAT [Read Order]

ITAT - ITAT Mumbai - Income tax - Shares - Banking channels - Sale of shares - TAXSCAN

The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench  ruled that no addition should be made under Section 68 of the income Tax Act , 1961 on the basis of statement of third party with respect to sale of shares carried through proper banking channel. The assessee, Jitendra Udaylal Jain after filing the return…

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