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2012 (7) TMI 394 - AT - Income TaxCapital gain – Exemption u/s 54F – sale of shares - A.O. after relying on certain newspapers cuttings and the decisions of the Tribunal held that the credit entries of sale of shares shown by the assessee are nothing but a colourable device to introduce unaccounted money in the guise of long term capital gain, he treated the entire amount as “income from other sources” u/s.56 of the Act and also denied the exemption claimed u/s.54F of the Act – assessee submitted Xerox copy of share certificate, Covering letter of Maheshwari Datamatics Pvt. Ltd. dated 19/06/2003 Registered Transfer Agent of the company, through whom shares purchased were duly transferred & send to our above named client, Copies of bills issued by the said broker alongwith various contracts for sale & purchase of shares – Held that:- Share certificates were purchased from the off market and the assessee was not given any opportunity to cross examine the printer - CIT(A) without giving any opportunity to cross examine the printer has relied on the material obtained by the A.O. during the course of assessment proceedings – matter remanded to AO - grounds taken by the assessee are, therefore, partly allowed for statistical purposes
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