2025 (11) TMI 1822

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.... Per Suchitra Kamble, Judicial Member: This is an appeal filed against the order dated 12-06-2024 passed by CIT(A)/Addl/JCIT(A), Madurai for assessment year 2012-13. 2. The grounds of appeal are as under:- "1. The learned CIT (Appeal), NFAC, Delhi erred in law and on facts in passing the order u/s 250 of IT Act 1961 which is requested to be quashed. 2. The learned CIT (Ap....

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....ed by including provision of section 147 of the Act 1961. In response to the notice u/s. 148 of the Act, the assessee filed return of income on 10-04-2019 after declaring total income at Rs. 8,83,290/-. The assessee has filed the return of income along with computation of long term capital gain and claimed exemption u/s. 10(38) of the Act. After going through the details and written submissions, t....

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....we are proceeding on the same basis. 7. The ld. D.R. submitted that the addition on account of long term capital gain on sale of share of penny scrip Dhvanil Chemical Ltd. as unexplained cash credit u/s. 68 is rightly done by the Assessing Officer. The ld. D.R. relied upon the assessment order as well as the order of the CIT(A). 8. We have heard the ld. D.R. and perused all the relevant mate....

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....al gain on which the assessee has paid the Security Transaction Tax (STT). From the perusal of the purchase and sale of shares details annexed to the assessee's paper book, it is seen that the assessee has purchased the shares on 23-06-2009 at the cost of Rs. 17,800/- in total and sold the same on 11-07-2011 at 9,80,780/- and 4000 shares were purchased on 23-06-2009 at the purchase value of Rs. 40....