INCOME TAX OFFICER WARD-3(2)(1) AHMEDABAD, AHMEDABAD vs. SAHIL VINOD AGARWAL (HUF), AHMEDABAD

ITA 2010/AHD/2025Status: DisposedITAT Ahmedabad23 September 2026AY 2019-208 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, stating that the AO relied on mere suspicion and lacked independent evidence to prove the transactions were bogus. The assessee had provided documentary evidence of share transactions through a recognized broker and banking channels.

What were the facts?

The Assessing Officer (AO) made an addition of Rs. 60,76,244/- on account of Long-Term Capital Gain (LTCG) from the sale of shares, considering it bogus accommodation entry. The CIT(A) deleted this addition, holding the LTCG to be genuine.

What were the issues?

Whether the LTCG from the sale of shares was genuine or a bogus accommodation entry, and if the AO had sufficient evidence to make the addition.

Which sections of the Income-tax Act were involved?

Section 68,Section 10(38),Section 147,Section 144B,Section 271AAC,Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD

Before: SHRI SANJAY GARG & SHRI NARENDRA PRASAD SINHA

For Appellant: Shri Hardik Vora, Advocate
For Respondent: Shri Deependra Kumar, SR-DR
Hearing: 09.07.2026Pronounced: 23.09.2026

PER NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER:

These four appeals are filed by the Revenue against the separate orders of National Faceless Appeal Centre (NFAC) [hereinafter referred

ITA Nos. 2067, 2009, 2010 & 2008/Ahd/2025 ITO Vs. Sahil Vinod Agarwal (HUF), AYs- 2017-18, 2018-19 & 20

The order continues below.

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