TMI Blog2012 (5) TMI 811X X X X Extracts X X X X X X X X Extracts X X X X ..... th the above, the reasoned order is now set out as follows : Per Mahavir Singh, JM Both these appeals filed by assessee are arising out of separate orders of CIT(A)-XX, Kolkata in appeal Nos. 518/517/ CIT(A) - XX/Wd. 36(1)/07-08/Kol dated 13.01.2010. Separate assessments were framed by ITO, Ward-36(1), Kolkata u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act ) for Assessment Year 2005-06 vide his separate orders both dated 31.12.2007. Since issue is common we dispose of both these appeals by this common order for the sake of convenience. 2. The only issue in respect of ITA No. 698/K/2010 of revenue is against order of CIT(A) treating the sale of shares for Long Term Capital Gains (LTCG) instead of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... following transactions were reported: Name of the scrip Name of member/broker Date of transaction Multiplus Resources Ltd. KCA Stock Broking Private Ltd. 01.12.2004 Multiplus Resources Ltd. KCA Stock Broking Private Ltd. 29.11.2004 The broker vide letter dated 10.11.2007 confirmed the following facts: 1 . The said client, Sri Rabindra Sanghai ( HUF ) purchased through us 10000 shares of Shree Narayan Raj Kumar Mercantiles Ltd . On 03 . 08 . 2004 @ 3 . 52 i . e . for Rs . 35,200 /- . The paym ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red the submission of the appellant . I have also considered the material and evidence on record and the various legal pronouncements relied upon by the appellant . The appellant has produced all documentary evidences to establish the genuineness of the transactions . The transactions of purchase and sale are supported by contract notes issued by the brokers . The purchase of shares are credited, and, similarly, the sales of shares are debited in the demat account of the appellant . The payments are received through banking channel . The various legal pronouncements, relied upon by the appellant, also support its contentions . In view of the above, it is held that the capital gain shown by the appellant on sale of share ..... X X X X Extracts X X X X X X X X Extracts X X X X
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