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2020 (1) TMI 149 - AT - Income TaxBogus long term capital gains - HELD THAT:- AO had brought on record, certain incriminating information clearly stipulates that transactions entered by the assessee with Ms. Leena Surana are bogus. It is for the assessee to explain the true nature of the transaction, as she was within exclusive knowledge of the facts which the assessee had failed to do so even before the ld. CIT(A). The findings of the ld. CIT(A) remains unconverted. Thus, we do not find any reason to interfere with the orders of the lower authorities. - Decided against assessee.
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