JUDGMENT

1. Petitioner is stated to be an individual, his income being profits from a partnership firm, income from house property, interest, dividend and income from dealing in shares and derivatives.

2. Petitioner filed his return of income for Assessment Year 2015- 16 on 29th September 2015 declaring a total income of Rs.1,52,19,010/-. The case was picked up for scrutiny assessment and an order dated 27th December, 2017 was passed under Section 143(3) of the Income-tax Act, 1961 ("Income Tax Act") wherein an addition of Rs.84,25,075/- was made under Section 68 and an addition of Rs.11,75,901/- was made under Section 69C of the Income-tax Act. It appears that additions were made by the Assessing Officer on the basis that petitioner had booked artificial long term capital gains of Rs.5,73,23,123/- and claimed exemption under Section 10(38) of the Income-tax Act thereon by selling shares of M/s. Lifeline Drugs and Pharma Limited ("Lifeline Drugs") for a total consideration of Rs.5,87,95,055/-. The case of the Assessing Officer was that the price of this share was artificially rigged by