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2021 (2) TMI 1247 - ITAT MUMBAI
Unexplained credit u/s 68 - Bogus LTCG - HELD THAT:- We are not in agreement with the conclusion drawn by the Ld. CIT(A) that the long term capital gain earned by the assessee from sale of shares is a non genuine transaction and accordingly we set aside the order of Ld. CIT(A) and direct the AO to delete the addition made under section 68 of the Act and further direct the AO to grant exemption under section 10(38) of the Act in respect of long term capital gain. The ground no. 2 is allowed.