PCIT v. Krishna Devi (Smt.) (2021) 431 ITR 361/ 198 DTR 177/ 319 CTR 168 279 Taxman 148(Delhi)(HC) PCIT v.Hardev Sahai Gupta (Garg) (2021) 431 ITR 361 / 198 DTR 177/ 319 CTR 168/ 279 Taxman 148 (Delhi)(HC) PCIT v. Bindu Garg (Smt.) (2021) 431 ITR 361 / 198 DTR 177/ 319 CTR 168/ 279 Taxman 148 (Delhi)(HC) .Editorial: Notice issued in SLP filed by Revenue , PCIT v. Krishna Devi (2022) 287 Taxman 91 / 114 CCH 184 (SC)

S. 68 : Cash credits -Sale of shares – Long term capital gains – 4849. 2 percent jump in share price within two years – Identity of creditors and genuineness of transaction proved — Deletion of addition is held to be justified . [ S.10 (38), 45 ]

Dismissing the appeal of the revenue the Court held that the Tribunal after considering the entire conspectus of the case and the evidence brought on record, held that the assessee had successfully discharged the initial onus cast upon it under the provisions of section 68 of the Income-tax Act, 1961 . It had recorded that the shares of the two companies were purchased online, the payments had been made through banking channels, and the shares were dematerialised and the sales had been routed from the dematerliased account and the consideration had been received through banking channels.( AY. 2014-15, 2015-16)