The Court : This appeal filed by the revenue under Section 260A of the Income
Tax Act, 1961 (the Act) is directed against the order dated February 29, 2024 passed by
the Income Tax Appellate Tribunal, A- Bench, Kolkata (the Tribunal) in
ITA/614/Kol/2023 for the assessment year 2014-15.
2
The revenue has raised the following substantial questions of law for
consideration :
“i. Whether in the facts and in the circumstances of the case the tribunal was justified in
law to delete the addition of Rs 1,97,94,148/ made on account of bogus share trading loss
claimed by the assessee which could not be substantiated by the assessee and give
plausible explanation to the genuineness and the creditworthiness of the transaction in
question.