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2018 (10) TMI 1979 - AT - Income TaxBogus LTCG - purchase and sale of the shares - AO based on a general report and modus operandi adopted and concluded that the assessee has claimed bogus long term capital gain - HELD THAT:- As in a number of cases this bench of the Tribunal has consistently held that decision in all such cases should be based on evidence and not on generalisation, human probabilities, suspicion, conjectures and surmises. We have in all cases deleted such additions. As there is no surviving order of SEBI against the assessee or the company, the script of which was purchased and sold by the assessee. When there is no surviving adverse order of SEBI, disputing the claim of the assessee, the judgment in RAKHI TRADING PRIVATE LTD. [2018 (2) TMI 580 - SUPREME COURT] cannot be applied to the facts of this case. In view of the above discussion the addition in question is deleted and the appeal of the assessee is allowed.
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