Dismissing the appeal of the Revenue the Court held that the Assessing Officer had not made any independent inquiry. The additions were made merely relying on the report of the Investigation Wing of the Department. Relied on PCIT v. Krishna Devi (Smt) (2021) 431 ITR 361 (Delhi)(HC).(AY.2015-16)
PCIT v. Karuna Garg (2023)457 ITR 591 (Delhi)(HC)
S. 68 : Cash credits-Long-term capital gains-Penny stock-Accommodation entries-Deletion of addition by the Tribunal is affirmed-No substantial question of law. [S. 45, 115BBE, 260A]