2021 (7) TMI 1439

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....ASKARAN, ACCOUNTANT MEMBER: The assessee has filed this appeal challenging the order dated 30.8.2018 passed by Ld. CIT(A)-5, Bengaluru and it relates to the assessment year 2015-16. The assessee is aggrieved by the decision of Ld. CIT(A) in confirming addition of Rs. 62.09 lakhs being sale proceeds of sale of shares u/s 68 of the Income-tax Act, 1961 ['the Act' for short]. 2. None appear....

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.... and since it was forming part of scrips whose trading was suspended, the A.O. took the view that capital gain declared by the assessee is a make-believe transaction. Accordingly, he assessed the entire sale proceeds of Rs. 62,09,600/- as income of the assessee. The Ld. CIT(A) also confirmed the same and hence, the assessee has filed this appeal before us. 4. As stated earlier, none appeared on b....