Allowing the appeal the Tribunal held that the asseessee has produced necessary documentary evidences to prove genuineness of its transaction.. The Assessing Officer simply rubbished all documentary evidences by referring to report of investigation wing. The Assessing Officer failed to produce any material\/evidence to dislodge or controvert genuineness of conclusive documentary evidences produced by assessee in support of his claim, neither assessee nor his brokers were named as illegitimate beneficiaries to bogus LTCG in any reports\/orders of investigation wing\u00a0 Accordingly the\u00a0 as cash credit was held to be unjustified. (AY.2015 16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 68 : Cash credits-Sale of shares-Neither assessee nor his brokers were named as illegitimate beneficiaries to bogus LTCG in any reports\/orders of investigation wing-Assessable as long term capital gains.[S. 10(38), 45, 115BBE]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-20893","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5qZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=20893"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20893\/revisions"}],"predecessor-version":[{"id":20894,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20893\/revisions\/20894"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}