Addition u/s 68 towards sale of shares unsustainable as investment in shares not disputed

Lalita Bajaj Vs DCIT (ITAT Delhi) ITAT Delhi held that addition under section 68 of the Income Tax Act towards sale of shares by the assessee unsustainable as such transaction cannot be alleged as unexplained/ bogus when department has not disputed investment in shares. Facts- The assessee has sold 3,50,000/- shares of RNB Infrastructure Pvt. Ltd. @10% which were acquired by the assessee at the very same price, i.e., @10 per share. AO made addition by observing that the explanation submitted by the assessee was baseless as the impugned amount remained unexplained credit and the explanation of ...