2012 (9) TMI 1098

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....1-05-2011 made by the Income-tax Appellate Tribunal (the Tribunal) by proposing the following question : "Whether on facts and circumstances of the case and in law, the Hon'ble ITAT is right in deleting the addition of Rs. 36,71,881/- made u/s. 68 by the Assessing Officer by treating the Short Term Capital Gain as unexplained cash credit?" 2. The assessment year is 2006-07 and the correspon....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....led the impugned order by placing reliance upon the reasoning adopted by the Assessing Officer. 4. As can be seen from the impugned order, the Tribunal, after appreciating the evidence on record, has found that before the Assessing Officer the assessee had explained that the purchase transactions were made on the "Online Trading System" and these transactions were genuine. Earlier, that is prior ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ransactions was already proved by the contract notes for sale and purchase, the bank statement of the broker, the Demat Account showing transfer in and out of shares, as also abstract of transactions furnished by the CSE. The Tribunal, after appreciating the evidence on record, concurred/with the findings recorded by the Commissioner (Appeals) that the assessee had furnished complete details which....