Dismissing the appeal of the revenue the Tribunal held that when the Assessing Officer had accepted purchase of shares as genuine transaction, sale consideration received on sale of shares cannot be assessee’s own unaccounted money .( AY.2013-14)
ACIT v. Navneet Kumar Sureka. (2019) 174 ITD 320 (Delhi) (Trib.)
S.68: Cash credits-Shares- Purchase of shares held to be genuine – Sale consideration cannot be assessed as assessee’s own unaccounted money [ S.45 ]