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2021 (7) TMI 1439 - AT - Income TaxBogus LTCG - sale proceeds of sale of shares u/s 68 - huge jump in the sale price of the scrip - assessee had purchased 20000 shares @ Rs. 1/- per share in October, 2011 and has sold them at Rs. 310/Rs. 311 in July, 2014 - HELD THAT:- As stated earlier, none appeared on behalf of the assessee. We heard Ld. D.R. who supported the orders passed by the tax authorities. We notice that the assessee has not filed any evidence/material to controvert the findings given by Ld. CIT(A). Under these set of facts, we have no other option but to confirm the order passed by Ld. CIT(A). Appeal filed by the assessee is dismissed.
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