LTCG on sale of shares cannot be treated bogus merely on investigation report

Mr. Sanjiv Shroff Vs ACIT (ITAT Kolkata)

Conclusion: When the nature and source of the money is explained with all supporting documents the question of treating the said gain as unexplained cash credit under section 68 of the Act cannot arise unless the AO is able to find fault/infirmity with the same.

The transactions were all through account payee cheques and reflected in the b

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