TMI Blog2012 (9) TMI 1098X X X X Extracts X X X X X X X X Extracts X X X X ..... ons was already proved by the contract notes for sale and purchase, the bank statement of the broker, the Demat Account showing transfer in and out of shares, as also abstract of transactions furnished by the CSE. The Tribunal, after appreciating the evidence on record, concurred/with the findings recorded by the Commissioner (Appeals) that the assessee had furnished complete details which were no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n deleting the addition of ₹ 36,71,881/- made u/s. 68 by the Assessing Officer by treating the Short Term Capital Gain as unexplained cash credit? 2. The assessment year is 2006-07 and the corresponding accounting period is 01-04-2005 to 31-3-2006. The respondent - assessee filed return of income declaring total income of ₹ 12,02,147/- including short term capital gain of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the evidence on record, has found that before the Assessing Officer the assessee had explained that the purchase transactions were made on the Online Trading System and these transactions were genuine. Earlier, that is prior to 1-4-2005, it was not compulsory for the client to have his own transaction record under SEBI guidelines. Therefore, the purchases earlier were made using the broker' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso abstract of transactions furnished by the CSE. The Tribunal, after appreciating the evidence on record, concurred/with the findings recorded by the Commissioner (Appeals) that the assessee had furnished complete details which were not found false or bogus by the Assessing Officer and that it was only on suspicion that the Assessing Officer had treated the capital gain declared by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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