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2021 (1) TMI 953 - ITAT LUCKNOWAddition u/s 68 - Bogus LTCG on the sale of equity shares - HELD THAT:- The sale of such shares is corroborated by contract notes issued by SEBI registered broker M/s Edelweiss Financial Advisors Ltd., a copy of contract note is placed - These contract notes show the order time, trade number and trade time of the shares sold and also show that Security Transaction Tax and Service Tax was also paid by the assessee. See SHRI ACHAL GUPTA, SHRI UDIT GUPTA, SHRI RAKESH NARAIN GUPTA VERSUS INCOME TAX OFFICER-3 (1) , KANPUR. [2021 (1) TMI 896 - ITAT LUCKNOW] The sale proceeds of such shares was credited to the bank account of the assessee. A copy of bank account where the proceeds are reflected is placed. The copy of DEMAT statement of assessee reflects various other shares also which the assessee was holding. All these documentary evidences, which were before the Assessing Officer, show that assessee did earn Long Term Capital Gain on the sale of equity shares of CCL International Ltd. - Decided in favour of assessee.
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