TMI Blog2008 (9) TMI 990X X X X Extracts X X X X X X X X Extracts X X X X ..... hat sufficient cause has been shown to condone the delay of 43 days. Hence, delay is condoned. The application being G. A. No.2973 of 2008 is allowed. Mr. Mitra, learned Advocate for the appellant, submits that no reason has been shown by the Learned Tribunal in coming to the conclusion in favour of the assessee. In view of that, we have specifically perused the orders so passed by the Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shares be considered as correct price as unquoted share prices are not independently verifiable unlike the prices of quoted shares. In the course of the present appellate proceedings the A/R of the appellant has submitted that all the details of share sale transactions before the A/O, and has stated that the sale prices of the shares were determined by mutual negotiations with the actual buyers w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h regard to the sale of investment in shares. In this context it is appropriate to note that the onus to prove that the apparent is not the real is on the party who claims it to be so. [C.I.T.Vs.Daulatram Rawatmall 87 ITR 249] In view of the aforementioned facts and the relevant judicial decisions, it is held that the assessee has discharged its onus by furnishing all possible details regarding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the learned Tribunal nor we find that any substantial question of law is involved in this appeal since the case of the department is wholly dependent upon the evidence and nothing else which also speaks against the department which would be evident from the noted paragraph hereinabove. Accordingly, the appeal is dismissed. All parties concerned are to act on a xerox signed copy of this ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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