The Assessing Officer was in possession of information from the Investigation Wing of Income Tax Department, Kolkata related to providing accommodation entry of exempted long-term capital gain on 'Penny Stocks' by a cartel of share brokers, entry operators, beneficiaries and proprietors in the scrip "Suchak Trading", which was appearing in the list of shares sold by the assessee during the year under consideration. The report of Investigation Wing explained entire modus operandi as how the companies in collusion with a set of brokers, accommodation entry operators, first sold the share in offline market (not on the stock exchange) either in cash or cheque by private placement, or preference shares etc.