2021 (7) TMI 1439

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....mt. R. Premi, D.R. ORDER PER B.R. BASKARAN, 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 [&#....

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....re was huge jump in the sale price of the scrip 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 befor....