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Sec. 68 of Income Tax Act, 1961—Cash Credit --- assessee was an individual filed return of income. The case was selected for scrutiny on the reasons “suspicious transaction relating to long term capital gain on shares”. The assessee was a Director of a Company from where he has drawn gross salary during the year. The assessee has income from other sources also i.e., income from house property , income from other sources. There was no income from business and profession and income from capital gains. The assessee in the reply before the A.O. claimed long term capital gains on sale of shares. The show cause notice was issued to the assessee as to why the same be not treated as unexplained income under section 68 of the I.T. Act, 1961 and commission on sale of share had also not added. The A.O. further made addition on account of commission paid for sale of shares. The assessee challenged both the additions before the CIT(A). Therefore, the above facts clearly show that assessee entered into the genuine transaction and as such the profit on sale of scrip was exempt from tax. The authorities below have not rebutted the explanation of assessee that he has indulged in dealing in scrips in earlier year as well as in subsequent years. It would, therefore, show that assessee is regularly dealing in scrips. The A.O. has not brought any adverse material against the assessee so as to make the above additions. Considering the totality of the facts and circumstances of the case tribunal set aside the Orders of the authorities below and delete both the additions. The appeal of the Assessee was allowed. --- SHRI RIAZ MUNSHI vs. Asstt. CIT.  23 ITCD Online 53 (DELHI)