Dismissing the appeal of the Revenue the Court held that the purchase and sale of shares and it was also found by the Department that the assessee was holding shares of other fifteen companies and it had continued to hold the shares over three years and therefore, sale of the shares were not bogus merely on the basis of suspicion on account of the fact that a substantial quantum of capital gains had been earned by the assessee on account of trading in respect of those shares. Merely because trading in the shares of the company N were suspended by the stock exchange, in the absence of any material brought on record to suggest that purchase and sale of these shares were bogus, the Assessing Officer was not justified in his finding that there had been collusion or connivance between the broker and the assessee for the introduction of his own unaccounted money, resulting into a bogus transaction. The deletion of the addition  by the Tribunal was justified.(AY. 2015-16)