STCG Claim on Shares Genuine as Purchase through Recognised Stock Exchange, Banking Channel, and...

The ITAT has deleted an addition, ruling that an "STCG claim on shares" was "genuine" as the "purchase was through a recognised stock exchange, banking channel, and demat proof confirmed authenticity." This decision underscores the importance of adhering to the hierarchy of legal instructions and the proper handling of re-computation requests. The tribunal's decision, which is a significant victory for the company, was made on the grounds that the company's claim was not supported by evidence.