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TMI Blog2019 (6) TMI 1611X X X X Extracts X X X X X X X X Extracts X X X X ..... at the transactions of purchase and sale of the shares by the assessee herein are through BSE by paying STT. This is not a case for offline purchase, nor is the case of direct purchase. Neither is the assessee s name coming out in the Investigation report, which has been received by the AO from Directorate of Investigation, Kolkata. This being so, the claim of assessee cannot be disallowed mere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on behalf of the Revenue and Mr. D.Anand, Adv.represented on behalf of the assessee. 3. It was submitted by the Ld.AR that the assessee had purchased shares of M/s.Sulabh Engineers and Services Ltd., through M/s. National Securities Depository Limited. The purchases had been made on 02.11.2012 and between 17.06.2014 and 08.07.2014. Security Transaction Tax (in short STT ) was also paid. The sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vestigation reports in respect of the racket for generating bogus entries. It was a submission that M/s.Sulabh Engineers and Services Ltd., had come under scrutiny. Admittedly, it was a submission that the assessees herein had no connection either with the directors or Managing Directors, or anybody in the companies. It was a submission that subsequently, the company has been removed from the so c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order dated 03.05.2018. It was a prayer that on identical directions, the issue in these appeals can also be restored to the file of the AO. 5. We have considered the rival submissions. A perusal of the assessment order clearly shows that this is not a case where the AO has been able to point out where the assessee has made a bogus claim of long term capital gains exempt u/s.10(38) of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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