TMI BlogBogus sale proceeds as undisclosed income - addition u/s 68 - all these transactions were through...Bogus sale proceeds as undisclosed income - addition u/s 68 - all these transactions were through banking channels only and in that process assessee has suffered loss. - AO mechanically applied the informations received from investigation wing and proceeded to disallow the loss claimed by the assessee as well as proceeded to make the sale proceeds as undisclosed income. - Additions deleted - Claim allowed as Short Term Capital Loss - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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