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2009 (1) TMI 318 - AT - Income TaxCapital gain - Undisclosed income - assessee has shown sale proceeds of shares at Rs. 7,34,206 and has worked out long-term capital gain of Rs. 7,09,740 after deducting expenses of Rs. 1466 and cost of shares at Rs. 23,000 and worked out a capital gain at Rs. 7,09,740 - Assessing Officer asked the assessee to furnish original sale of the purchase bill of shares and copy of D-Mat account to ascertain the genuineness of the transaction - If the shares are delivered in physical form, generally the bill of the seller/broker should contain the descriptive numbers of the shares delivered to the buyer i.e. the assessee in the present case - there is no detail given regarding this investment shown in the balance sheet such as name of the company, number of shares etc. - it can be seen that on 3-7-2003, 10500 shares were traded and such credit is on account of market receipt from the same client ID No. 14528754 and the same were debited on 5-7-2003 and the client ID is same i.e. 14528754 - Decided against the assessee
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