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2011 (11) TMI 434 - HC - Income Tax
Unexplained credits – long term capital gain arising on purchase and sale of shares alleged to be bogus and manipulated - Held that:- The transactions of sale and purchase were as per the valuation prevalent in the Stocks Exchange. Such finding of fact has been recorded on the basis of evidence produced on record. The Tribunal was justified in deleting the addition made on account of unexplained deposits in the bank account. - Decided against the Revenue.