The AO assessed the consideration received on sale of shares   as penny stock  and denied the exemption on the basis of information received from the Investigation wing  pertaining to survey action conducted in the case of company .i. e. First Financial Services Ltd in whose shares the asseee had transacted , statements recorded of other beneficiaries , finding of the Securities Exchange Board of India ( SEBI) vide interim orders in case of First Financial Services Ltd , statement of  assessee recorded pursuant summons issued u/s 131  of the Act , came to the conclusion that the proce received by the  assessee as accommodation entry, which has been laundered in the form of bogus profit on sale of shares . Accordingly the consideration received was assessed as unexplained investments .        The disallowance was affirmed by the CIT(A). On appeal the Tribunal held that  the interim order of the SEBI was revoked  and  shares of First Financial Services Ltd  was not treated as penny stock .  Accordingly the  addition was deleted . ( ITA .No. 143/M/ 2022 dt .13 -10 -2022)(AY. 2013 -14 )