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2013 (12) TMI 771 - AT - Income TaxUnexplained investment - Held that - The purchase and sale of shares were done through Off Market Transactions, meaning thereby that the shares were not routed through Demat account nor through BOLT - After year 2000, when the SEBI has made it mandatory to transact through Demat Account, thereby completely banning the physical transactions of the shares through BOLT , the assessee is still transacting in physical shares Offline - The genuineness of the transaction needs further verification at the assessment stage - The issue was restored for fresh adjudication.
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