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2019 (12) TMI 403 - AT - Income TaxBogus LTCG - Suspicious Long Term Capital Gain (LTCG) on sale of shares (inputs from investigation wing) - assessee had earned a return of approximately 6300% over a very short period of just over 12 months - HELD THAT:- In the case of Sanat Kumar [2019 (8) TMI 696 - ITAT DELHI] dealt with a similar situation, and made an observation that though the assessee meticulously completed the paperwork by routing his entire investments through banking channel, when the result of an altogether beyond human properties, what is apparent in making investment is not really and the examination of the entire transaction falsifies the same. The conduct of the assessee who is a novice, in investing in the stocks of a company whose financial results are not brilliant and where there is no apparent chance of lucrative gains at the time when such an investment was made - raises reasonable doubt to suspect the bona fides of the transaction and in the absence of any satisfactory explanation offered by the assessee on the vital points raised by the learned Assessing Officer, it is not possible to brush aside the orders of the authorities below. Both the authorities below have the cogent reasons for reaching the conclusions and we find it difficult to interfere with the same. With this view of the matter, we dismiss the grounds of. - Decided against assessee.
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