TMI Blog2010 (8) TMI 634X X X X Extracts X X X X X X X X Extracts X X X X ..... e Investigation Wing without verifying the details furnished by the assessee. The assessee has also produced best possible evidence to support its claim - Appeal is dismissed - 1031 OF 2010 - - - Dated:- 9-8-2010 - DIPAK MISRA, MANMOHAN, JJ. Ms. Prem Lata Bansal for the Appellant. JUDGMENT Manmohan, J. The present appeal has been filed by the revenue under section 260A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer issued notice under section 148 to the respondent-assessee. The respondent-assessee submitted that during the relevant assessment year, the respondent-assessee had purchased and sold certain shares through M/s MKM Finsec (P.) Ltd., a share broker and earned a profit of Rs. 49, 55,300 which was received by the respondent-assessee through account payee cheques. 3. An appeal was filed by the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Accordingly, ITAT confirmed the deletion made by CIT(A). 5. Ms. Prem Lata Bansal, learned counsel for the revenue submitted that ITAT had erred in law in deleting the addition of Rs. 49,33,500 by holding that the assessee had discharged the onus of proof especially when the genuineness of the transaction, identity and creditworthiness of the parties had not been established. 6. We are of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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