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TMI Blog2020 (2) TMI 1344X X X X Extracts X X X X X X X X Extracts X X X X ..... . Goyal, Sr. D.R. ORDER PER MAHAVIR PRASAD, JUDICIAL MEMBER 1. This appeal filed by the Assessee is directed against the order of the Ld. CIT(A)-10, Ahmedabad dated 22.02.2018 pertaining to A.Y. 2014-15 and following grounds have been taken: 1.That ld.CIT(A) has erred in law and facts by not quashing the order passed under section 143(3) of the Act and therefore the order passed by the learne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmination of the amount of the interest under section 234B of the Act and therefore the Id.AO be directed to calculate correct interest under section 234B of the Act. 5. That the appellant craves liberty to add, amend, alter and delete any grounds of appeal before the final hearing. 2. Facts of the case are that the assessee in the business of trading in share and also earning income from inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ried out any bogus penny stock transaction and earned bogus long term capital gain claimed u/s. 10(38) of the Act. 5. But ld. A.O. did not agree with the contention of the assessee and made an addition of Rs. 9,70,468/-. 6. Against the said order, assessee preferred first statutory appeal before the ld. CIT(A) who confirmed the action of the A.O. holding that Alpha Graphic India Ltd. and Blazon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in from the sale of companies share i.e. Alpha Graphic India Ltd. and Blazon Marbles. 9. In our considered opinion, in such case assessee cannot be held that he earned Long Term Capital gain through bogus company when he has discharged his onus by placing all the relevant details and some of the shares also remained in the account of the appellant after earning of the long term capital gain. 10. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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