PCIT v. Gaurav Bagaria (2023) 453 ITR 513 (Raj)(HC) Editorial: SLP of Revenue is dismissed, PCIT v. Gaurav Bagaria (2023) 452 ITR 412 (St) (SC)

S. 68 : Cash credits – Purchase and sale – Genuineness of the Transactions was established -Order of Tribunal deleting the addition was affirmed. [S. 37(1), 260A]

Dismissing the appeal of the Revenue the Court held that the assessee  assessee had produced all the relevant documentary evidence to establish the genuineness of the transaction  and there was no contrary evidence to doubt the correctness of the evidence produced by the assessee. Therefore, treating the transaction of purchase and sale as sham was not justified. No question of law arose. (AY. 2014-15)