Addition u/s 68 sustained as genuineness of transaction in shares not proved

Meenu Ajay Pathak Vs ITO (ITAT Mumbai)

ITAT Mumbai held that addition of unexplained investment u/s 68 sustained as genuineness of transaction in shares not proved. Further, SEBI also found manipulative trade executed in entities to whom shares were sold by the assessee.

Facts- During the year, the assessee has shown exempted long-term capital gain of Rs.86,03,271, in the return of income filed by her on the sale of scrips of M/s Sunrise Asian Ltd.

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