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2013 (1) TMI 843 - AT - Income TaxAddition on account of long-term capital gains on sale of shares - bogus accommodation entry - Held that:- Assessee sold shares through two brokers and their copies of sale bills and contract notes are filed and sale consideration of share is given to the assessee through banking channel and the rates at which the shares are transferred are similar as approved by M.P. Stock Exchange. The ld. CIT(A) asked the Income-tax Authorities to produce all relevant evidences and material before him to prove that the assessee has accepted bogus accommodation entry, but no material was produced before him in this regard. Therefore, the ld. CIT(A) on proper appreciation of facts and material on record rightly deleted the addition. Further, whatever material was collected at the back of the assessee was not forwarded to the assessee. Therefore, same cannot be read in evidence against the assessee. - Decided against revenue
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