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2023 (4) TMI 182 - AT - Income TaxBogus LTCG claimed u/s 10(38) in the ROI held to be income from undisclosed source - CIT(A) found that the increase in the share price from Rs. 500/- to Rs. 6,12,867/- is not justifiable and he confirmed the action of the AO as to reopening of the assessment and also confirmed the addition as income from undisclosed sources by denying exemption u/s 10(38) - HELD THAT:- Bench taking into consideration of all the aspects discussed by the lower authorities hereinabove finds that the assessee has neither furnished any details of purchasing of shares nor details of the source of such purchases alongwith copy of demat account when the shares came into demat account of the assessee in order to justify the claim u/s 10(38). Hence, in the absence of these details, the Bench feels to restore the issue to the file of the AO to decide it. Thus the appeal of the assessee is allowed for statistical purposes.
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