Dinesh Dahiya v. PCIT (2024) 296 Taxman 317 / 461 ITR 374 (Delhi)(HC)

S. 68 : Cash credits-Share transactions-Tribunal misdirected itself and made an addition on presumptive income-Matter remanded back for de novo examination. [S. 254(1)]

Held that the Tribunal misdirected itself on facts and in law, in directing the addition on the ground that it represented an unexplained cash deposit, without having regard to the loss suffered by the assessee while trading in equities and commodities. Hence, the matter was remanded to the Tribunal for a de novo examination. (AY. 2011-12)