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2015 (12) TMI 382 - AT - Income TaxAddition u/s 68 - unexplained cash credit - CIT(A) deleted addition - Held that:- the assessee has proved to have purchased the shares of ₹ 25,10,000/- in the preceding assessment year duly shown in the balance sheet and then sold the same and shown an amount of ₹ 25,10,000/- as sale proceeds of the share as income, the provisions contained in Section 68 of the Act are not attracted and holding the same as income would tantamount to double taxation which is not permissible under law and as such, the Ld. CIT(A) has rightly deleted the addition made by the A.O. See Vishal Holding and Capital Pvt. Ltd. [2010 (8) TMI 634 - DELHI HIGH COURT ] - Decided in favour of assessee.
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