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2019 (1) TMI 944 - ITAT DELHIUnexplained cash credit in the guise of sale of shares - Bogus LTCG - assessee not allowed cross-examination of the maker of the statement that the assessee received accommodation entry - Held that:- Sale consideration of shares of M/s. Shri Ganga Paper Mills Pvt. Ltd. at face value on which the assessee had not earned any capital gain. The shares already existed in the balance sheet of the assessee in the Assessment Years 2006- 07 and 2009-10. Further, the assessee was not allowed cross-examination of the maker of the statement that the assessee received accommodation entry of ₹ 69 lac in the guise of sale consideration of shares, and therefore, the statement of the persons cannot be used against the assessee for making addition u/s.68. No material has been brought on record by the Department to show that the above findings of the ld. CIT(A) are not correct. Even otherwise, no specific error in the order of the ld. CIT(A) could be pointed out by the learned Department Representative. Hence, we find no good reason to interfere with the order of the CIT(A) which is hereby confirmed and the grounds of appeal of the Revenue is dismissed.
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