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2021 (11) TMI 320 - AT - Income TaxBogus LTCG - unexplained credit u/s 68 - HELD THAT:- There is no material with the department which would irrefutably falsify the assessee’s claim of having carried out genuine purchase/sale of shares of M/s Sunrise Asian Limited, we are unable to persuade ourselves to concur with the disallowance of the assessee’s claim for exemption of LTCG u/s 10(38) of the Act. As we have held that the assessee had carried out genuine transaction of purchase/sale of shares, therefore, as a consequence thereto the addition u/s 69C of commission expenditure would also meet the same fate and is accordingly vacated.
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