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2019 (1) TMI 2027 - AT - Income TaxAddition u/s 68 - bogus transactions of purchase and sale of shares for the purpose of laundering his undisclosed income - Assessee’s contention is that he has purchased shares through broker via BSE and shares were part of Demat account and payments have been made through banking channel and he is merely an investor - HELD THAT:- A.O. has made detailed and comprehensive enquiry with regard to NCL Research Ltd. share, assessee has filed Contract Note and shares were purchased through broker via BSE, payments have been made through banking channel and held for around two years in the demat account of the assessee and long term capital gain was claimed by the assessee. We consider that the assessee could not appear before the ld. Pr. CIT, Therefore in the interest of justice, we consider it to appropriate that one more opportunity of hearing should be granted to the assessee. As before passing any order, ld. Pr. CIT may also be consider the order passed in case of Smt. Minu Gupta vs. [2018 (12) TMI 1962 - ITAT KOLKATA] We restore this case to the file of Pr. CIT for deciding de novo after examination of details to be submitted by the assessee and after affording adequate opportunity of being heard. Appeal filed by the Assessee is allowed for statistical purpose.
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