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2017 (10) TMI 168 - AT - Income TaxAddition as Income from other sources by CIT-A - Income tax Officer has added as a unexplained credit u/s. 68 and also not granted Long Term capital gain u/s.10(38) of I. T. Act - Held that:- As no direct or material evidence against the assessee to hold that the share transactions were not genuine, we respectfully following the above decisions of the Tribunal, hold that additions made by the AO u/s.68 are not warranted and are accordingly deleted. In this case, transaction are made for the D-mat account and STT has also been paid. Assessee has sold his shares to authorized stock exchange and received Invoice duly paid STT on his selling shares. In our opinion, the order of the CIT(A) is not sustainable. - Decided in favour of assessee.
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