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2010 (2) TMI 656 - AT - Income Tax
Long-term capital gain - Unexplained income - Scrutiny – Exemption u/s 54F - assessment of Rs. 12,19,538 as the income from undisclosed sources as against the sale consideration of shares declared by the assessee. – Addition - Held that:- Department has thus proceeded entirely on suspicion and surmises if seen in the light of the orders of the Tribunal - Accordingly AO is directed to assess the income declared from the sale of shares under the head income from long-term capital gain – Decided in the favour of the assessee