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2022 (5) TMI 1543 - HC - Income TaxUnexplained credit u/s 68 - assessee was unable to justify equity trading by picking the shares of specific companies with poor net worth - ITAT deleted the addition - HELD THAT:- ITAT has specifically held that the assessee has produced all the relevant documentary evidence to establish genuineness of the transaction and there is no contrary evidence to doubt the correctness of the evidences produced by the assessee and therefore treating the transaction of purchase and sale as sham is not justified. ITAT has also relied upon the decision of Commissioner of Income Tax, Jaipur Vs. Smt. Pooja Agarwal [2017 (9) TMI 1104 - RAJASTHAN HIGH COURT] wherein learned ITAT has relied upon the judgment of Division Bench involving the same facts wherein the Division Bench has dismissed the appeal filed by the Revenue. Thus the order of learned ITAT requires no interference and therefore, the appeal is dismissed.
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