Addition for LTCG on mere surmises not justified

M/s. J.V.S. Foods Pvt. Ltd. Vs DCIT (ITAT Jaipur)

The sales of the shares are not in dispute as the same were sold from the d-mat account against the consideration which was received by the assessee through banking channel. The dematerialization of the shares in the d-mat account is also not in dispute hence the holding of the shares in the d-mat account by the assessee prior to the sale as well as the sale transaction are not in dispute. Once holding of the shares prior to the sale and the sale transaction itself are not in dispute then the same cannot

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