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2020 (11) TMI 641 - AT - Income TaxAddition u/s 68 - bogus LTCG - HELD THAT:- Issue involved in the present appeal is squarely covered in favour of the assessee by the decision of AKSHAY JAIN [2019 (1) TMI 1404 - ITAT DELHI] as held that from the perusal of the nature of credit, it is seen that the same has come through sales of shares which fact has also not been doubted by the Department. The source of money is through broker who has undertaken the transaction of the shares lying with the assessee purchased in the earlier years and same has been sold after paying due taxes in the form of STT. Thus, nature of the credit stands fully explained. If it is to be held that assessee has routed his own unaccounted money, then there has to be some material to provide live link nexus to show that the unaccounted money has been routed under the garb of transaction of purchase and sale of shares. If the availability of shares is not in doubt then the sale of the same also cannot be doubted in wake of the evidences as discussed above. Even for the sake of repetition, it is reiterated that it is not a case here that any such information or material was found or discovered that the assessee beneficiary of any accommodation entry nor there is any such statement or material either from the broker or from the stock exchange or from elsewhere. Thus, no reason to sustain the addition made u/s.68. - Decided in favour of assessee. Addition of commission paid for procuring the long term capital gain - HELD THAT:- As we have already adjudicated the main issue in favour of the assessee by holding that the addition of long term capital gain was wrong and directed the AO to delete the same. Therefore, this being consequential ground and AO is also directed to delete the addition - Appeal of the assessee is allowed.
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