Introduction of unaccounted money as LTCG: ITAT upheld addition

Shweta Puneet Kulthia Vs ITO (ITAT Delhi) We find the AO in the instant case has rejected the claim of deduction u/s 10(38) of the Act on the ground that the assessee failed to substantiate with evidence to his satisfaction regarding sale of shares of M/s Lifeline Drugs & Pharma Ltd. which increased from Rs.6 to Rs.186.84 in just 18 months. According to him, hike in price of the scrip is not supported by the fundamental of the company and the assessee could not substantiate with any supporting evidence to justify the transaction. We find the ld. CIT(A) in his elaborate order has decided th...