“We therefore find that the same facts were considered in the above cited cases regarding purchase of shares of M/s. Careful Projects Advisory Ltd which was subsequently merged with M/s. Kailash Auto Finance Ltd. and after analyzing the relevant documentary evidence which includes purchase bill, payment consideration through bank, dematerialization of shares, allotment of the shares amalgamated new entity in lieu of earlier company, the Tribunal has held that in the absence of any contrary evidence it cannot be held that the assessee has introduced his own unaccounted money by way of bogus Long Term Capital Gain and reliance on the statement recorded by the Investigation Wing without providing an opportunity of cross examination is a complete violation of principal of natural justice. The Tribunal has also followed the decision of Hon'ble Jurisdictional High Court in case of CIT vs. Smt. Pooja Agarwal (supra) wherein the Hon'ble High Court has also upheld the finding of the ld. CIT (A) and this Tribunal when the assessee produced all the relevant details and evidence in support of the transaction of purchase and sale of shares. The ratio and findings of the aforesaid decision squarely applies in the instant case where the assessee produced all the relevant details and evidence in support of the transaction of purchase and sale of shares and where the said statement of a third person relied upon by the AO was not provided to the assessee inspite of specific request and the assessee came to know of the contents of the said statement only on receipt of the assessment order which is a complete violation of principal of natural justice.”
