ACIT CC 2(3) AHMEDABAD, AHMEDABAD vs. AISHA DHIRAJ GOGIA, AHMEDABAD

In the result: 50. To summarize the final outcome:

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha["ी संजय गग", "ाियक सद" एवं "ी नरे" साद िस!ा, लेखा सद" के सम#।]

bogus. It is a settled position of law that a statement alone, without any corroborative incriminating material, cannot be the basis for an addition. The assessee has provided a complete documentary trail for the share transactions which included demat account statements showing the entry and exit of shares, contract notes issued by registered brokers, and bank statements evidencing the receipt

THE ITO, WARD-4(2)(4), AHMEDABAD vs. SHRI PALAK CHINUBHAI PATEL , AHMEDABAD

Bench: Itat Vide Cbdt Circular No. 17 Of 2019 Dated 8Th August, 2019. The Ld. Counsel For The Assessee Pointed Out That The Limit Prescribed Vide Aforesaid Circular Is Less Than Rs. 50 Lakhs While The Tax Effect Involved In The Present Appeal Was Only Rs. 3,51,871/-.