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. During the assessment proceedings, AO considered the information received from the Investigation Wing as well as the statement recorded, during the...