New Delhi, Sept. 1 -- The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has deleted a Rs.85.35 lakh addition made against a taxpayer who claimed long-term capital gains (LTCG) from shares of Sunrise Asian Ltd., holding that the tax department could not establish her involvement in price manipulation or accommodation entries.

The ruling came in the case of Amita Rambilas Agarwal v. Income Tax Officer - Piramal Chambers, Mumbai (ITA No. 1216/Mum/2026) for assessment year 2014-15. The order was pronounced on 21 July 2026. The case concerned the taxpayer's claim of exemption on LTCG from the sale of 8,000 shares of Sunrise Asian Ltd., formerly known as Santoshima Tradelinks Ltd.

Agarwal had reported LTCG of Rs.85.35 lakh from the...