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2013 (7) TMI 966 - AT - Income TaxIncome from sale of shares - AO treated the long term capital gain as bogus - Held that:- The statement of Mr.Mukesh Chokshi was recorded sometime in the year of 2009, whereas transaction of purchase and sales were held in assessment year 2002-03 & 2003-04. Taking into consideration all these aspects and taking into consideration the various decision of the Tribunal, which have been confirmed by the Hon’ble jurisdictional High Court, hold that the transaction for purchase and sale of shares in the present case also cannot be held as bogus as no material was found against the assessee directly.
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