Ashok Kumar Jain vs DCIT
Case No: ITA No.3335/Del/2024
Court: Income Tax Appellate Tribunal
Bench: Delhi "A" Bench: New Delhi
Date: 2/6/2026
Parties Involved
appellantAshok Kumar Jain
respondentDCIT
Facts Summary
An information was received on ITBA System dated 12.03.2021 which was uploaded by DDIT (Inv.), Unit-6(3), New Delhi that assessee had obtained bogus Long Term Capital Gain (LTCG) in the scrip of M/s. Achal Investment Ltd. during the year under appeal. In view of the above information, the case of the assessee was re-opened for the year under consideration and notice u/s 148 was issued to the assessee company on 30.06.2021 after taking prior approval from Competent Authorities. Thereafter, reasse…
Decision in favour of
Assessee
Legal Issues
- 1. Addition of Rs. 1,19,63,230/- u/s 68 of the Income Tax Act
- 2. Addition of Rs. 3,58,890/- u/s 69C of the Income Tax Act