Tribunal held that the reopening of assessment based on wrong facts and figures was bad in law. The reopening was also bad in law as it proved non-application of mind by the Assessing Officer. The assessee had disclosed the sale of shares in its books of account. Once the sale was declared as income by the assessee, the question of treating the amount as a cash credit under section 68 resulted in double addition. Moreover, the gross receipt could not be brought to tax, specifically when the assessee had acquired the shares pursuant to an allotment as evidenced by the letter of allotment, payment details, etc. Thus, the addition was also bad on the merits.( AY.2011-12)