Unexplained investment addition can be made in year of Purchase

If period of holding is >1yr then it is LTCG & Exempt & Assessing Officer can make addition in the year of purchase if unexplained but no addition can be made in the present year/year of assessment.

Facts of the Case

It was submitted by Learned A. R. of the assessee that photocopy of DEMAT account statement for the period from 01/12/2007 to 31/12/2007 is available on page No. 3 of the p

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