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2019 (2) TMI 222 - AT - Income TaxAddition of Short term Capital gain - assessee claimed that the sum was received by M/s NPPL in pursuance to the Banachitthi dated 06-09-2010 - Held that:- The impugned transaction was duly confirmed by the director of NPPL in the statement recorded u/s 131 of the Act. The director of NPPL duly admitted the fact in the statement recorded under section 131 of the Act that the impugned transaction was duly disclosed in its books of accounts. Thus hold that the payment was made to NPPL as per the Banachitthi dated 06-09-2010 which was enforceable under the provisions of law. Therefore, the payment made to NPPL cannot be said as a colorable device used by the assessee to escape the tax liability. Hence we do not find any reason to interfere in the order of Ld CIT(A). Thus the ground of appeal of the Revenue is dismissed.
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