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2017 (1) TMI 566 - AT - Income TaxAddition as STCG - bogus accommodation bill - speculating profit or loss on commodity trading - Held that:- CIT(A) concluded that the shares were dematized on 28.07.2004 and concluded that the share might have been purchased around July 2004 and directed the AO to treat the profit on sale of share as STCG. The ld. AR of the assessee has placed on record the copy of share certificate along with certificate of M/s Talent Inforways Ltd. about the transfer of share, copies of which are available on page no. 53 to 71 of PB. The certificate of M/s Talent Inforways Ltd. shows that the shares were transferred on 31.05.2003. Therefore, considering the documentary evidence, we restore the case to the file of AO to verify the fact. The AO shall verify the fact regarding the dates of purchase, date of transfer, period of holding in accordance with the CBDT Circular No. 704 dated 28.04.1995 and shall grant relief in accordance with law. - Decided in favour of assessee for statistical purpose.
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