Share Transaction can’t be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]

Share Transaction-Bogus - Statement of Broker - Accommodation Entries-ITAT deletes -TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition under Section 69C of the Income Tax Act, 1961, and held that the share transaction cannot be treated as bogus just by the statement of the broker to have provided accommodation entries. The assessee is an individual and promoter of Shreepati Group…

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