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TMI Blog2014 (5) TMI 157X X X X Extracts X X X X X X X X Extracts X X X X ..... that:- The Tribunal was rightly of the view that the AO has made his suspicion that the share loss claimed by the assessee is bogus only on the reasons that the assessee has been claiming loss of shares continuously - the share brokers through whom the assessee entered into shares transactions were the registered stock brokers - the assessee has been able to produce all the relevant documentary ev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessing Officer on account of disallowance of assessee's claim of share loss, without properly appreciating the fact that the Assessing Officer made detailed enquiries with regard to share loss to the tune of Rs. 8,60,231/- claimed by the assessee, and has disallowed the same after giving detailed reasonings thereof.? The assessee is an investment limited company and the main source of inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal recorded the finding in para-4 We have carefully considered the submissions of the ld. Representatives of the parties and have perused the orders of the authorities below. We observe that the A.O. has made his suspicion that the share loss claimed by the assessee is bogus only on the reasons that the assessee has been claiming loss of shares continuously and in the assessment year u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ck brokers. We also observe that the A.O. had also called for the records from the share brokers and no discrepancy had been found by him. Since the assessee has been able to produce all the relevant documentary evidence in respect of the shares transactions entered into, we are of the considered view that the observation of the A.O. that the share loss claimed by the assessee is bogus and is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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