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