VINEET ARYA,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

ITA 1970/AHD/2025Status: DisposedITAT Ahmedabad11 September 2026AY 2018-199 pages
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What did the Tribunal hold?

The Tribunal held that the reopening of assessment was valid as the AO followed the prescribed procedure under Section 148A. It further held that the addition made by the AO was based on suspicion and surmises, not on concrete evidence, and therefore deleted the addition.

What were the facts?

The assessee declared long-term capital gains from trading in shares of M/s. Oasis Tradelink Ltd. The Assessing Officer (AO) reopened the assessment based on information from the Insight Portal, suspecting accommodation entries. The AO made an addition of Rs. 15,93,499/- on this basis.

What were the issues?

Whether the reassessment proceedings were validly initiated and whether the addition for long-term capital gains from share transactions was justified without corroborative evidence.

Which sections of the Income-tax Act were involved?

Section 147,Section 148A,Section 144B,Section 10(38),Section 69A,Section 115BBE,Section 234A,Section 234B,Section 234C,Section 234D,Section 244A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, AHMEDABAD

Before: SHRI NARENDRA PRASAD SINHA & SHRI TAPAS RAM MISRA

For Appellant: Shri Tushar P Hemani, Sr. Advocate &, Ms. Yashvi Mashruwala, AR
For Respondent: Shri Amit Pratap Singh, SR-DR
Hearing: 05.08.2026Pronounced: 11.09.2026

PER NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER:

This appeal has been filed by the Assessee against order of National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as “CIT(A)”] dated 26.08.2025 for the Assessment Years (A.Y.) 2018-19 in the proceeding u/s 147 r.w.s 144B of the Income Tax Act [hereinafter referred as “the Act”].

2.

The brief facts of the case are that the assessee had filed his original return of income for A. Y 2018-19 on 19.7.2018 declaring total income of Rs 3,17,53,990/-. The case of the assessee was reopened on the basis Vineet Arya Vs

The order continues below.

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