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2019 (3) TMI 559 - ITAT KOLKATA
Unexplained cash credits u/s 68 - Bogus Long Term Capital Gains (LTCG) / Long Term Capital Loss - Held that:- Revenue fails to indicate any specific evidence against the assessee in above terms qua his LTCG derived from transfer of share in Jackson Investments Ltd. Therefore adopt the above extracted reasoning mutatis mutandis to delete the impugned bogus LTCG addition
Same order to follow in all remaining twelve cases as well since notice that there is no specific evidence co-relating these assessee with any kind of rigging of share price. All these impugned LTCG/losses addition(s) (supra) are reversed in these fact and circumstances.