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Case Law Details

Case Name : Shri Amar Nath Goenka Vs The ACIT (ITAT Delhi)
Related Assessment Year : 2015-2016
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Shri Amar Nath Goenka Vs The ACIT (ITAT Delhi)

Conclusion: Where assessee placed sufficient documentary evidences before A.O. to prove genuineness of the transaction of sale of shares such as copies of bank statement, Demat account, share purchase documents and share certificate., etc., and no material had been brought on record against assessee to disprove the claim of assessee, addition made under section 68 on account of bogus long-term capital gain on sale of shares could not be sustained.

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