Section 68: Sale of shares cannot be added when purchase not doubted

Advertisement Brij Resources Pvt. Ltd. Vs ITO (ITAT Delhi) So far as the merit of the case is concerned, it is a fact that the assessee, during the impugned assessment year, has sold the shares of M/s Shree Govind Devji Biogenic Pvt. Ltd. to M/s Sunny Cast and Forge Pvt. Ltd. for an amount of Rs.10 lakhs. The assessee has purchased the shares of Shree Govind Devji Biogenic Pvt. Ltd. during the F.Y. 2008-09, relevant to A.Y. 2009-10 and were shown in the balance sheet of the assessee company under the head ‘Investments’ which is discernable from page 17 of the paper book. I find, the...