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TMI Blog2020 (10) TMI 299X X X X Extracts X X X X X X X X Extracts X X X X ..... us companies? - ITAT deleted the addition - HELD THAT:- Tribunal has recorded the finding of fact that the assessee discharged his onus of establishing that the transactions were fair and transparent and further, all the relevant details with regard to such transactions were furnished before the Income Tax authorities and the Tribunal also took notice of the fact that some of the shares also remai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act 1961 ) is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench dated 20-2-2020 in the ITA No.549/Ahd/2018 for the A.Y. 2014-15. The Revenue has proposed the following question of law for the consideration of this Court:- Whether the Appellate Tribunal was right in law and on facts in deleting the addition of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital gain. 10. Learned A.R. contention is that no statement of the Investigation Wing was given to the assessee which has any reference against the assessee. 11. In support of its contention, learned A.R. also cited an order of Coordinate Bench in ITA No.62/Ahd/2018 in the matter of Mohan Polyfab Pvt. Ltd. Vs. ITO wherein ITAT has held that A.O. should have granted an opportunity to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the assessee has a Demat Account maintained with the ICICI Securities Ltd. and has also furnished the details of such bank transactions with regard to the purchase of the shares. In the last, the Tribunal took notice of the fact that the statements recorded by the investigation wing of the Revenue with regard to the Tax entry provided were informed to the assessee despite giving him opportunity ..... X X X X Extracts X X X X X X X X Extracts X X X X
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