Sale Consideration from Shares Deemed Undisclosed Funds; Tax Levy u/s 115BBE Upheld by Assessment Officer.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Undisclosed income - Bogus share transactions - Levy of tax u/s.115BBE - A.O had in clear and unequivocal terms observed that the sale consideration, was infact the routing back of the undisclosed fund of the assessee through the medium of transaction of sale of shares, therefore, it can safely; or in fact inescapably be concluded that the same was the assessee’s unexplained money u/s.69A - Order of AO confirmed - AT....