Addition of bogus LTCG not sustained as shares sold via recognized stock exchange and STT paid

JigneshRamjibhai Patel Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that addition of LTCG u/s. 68 of the Income Tax Act by treating transaction as bogus cannot be sustained since shares were sold via recognized stock exchange and Security Transaction Tax [STT] duly paid and assessee’s involvement in manipulation of price not pointed. Facts- The assessee filed return of income on 31.01.2015, declaring total income at Rs.2,45,750/- and agricultural income of Rs.1,56,940/- and Long term capital gain(LTCG) amounting to Rs.2,23,95,400/-. Post scrutiny assessment, AO made addition of Rs.2,23,95,000...