#Rule 46A

ITAT Ahmedabad sets aside an assessment order ignoring a co-owner’s 0.70% share and indexed cost of acquisition, emphasizing that capital gains must be computed proportionately and consistently across co-owners. The ruling reinforces natural justice principles under Rule 46A and mandates de novo adjudication to prevent arbitrary tax treatment.

ITAT Delhi holds that revenue must substantiate allegations of shell entities; mere suspicion cannot override credible evidence produced by assessee under Section 69A.

ITAT Delhi holds that unexplained investment additions require verification of fund source and lender's creditworthiness; mere lack of business capability doesn't invalidate genuine transactions.