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of The ITAT held that the assessee's long-term capital gains (LTCG) from sale of shares could not be treated as bogus or manipulated. The Investigation Wing's report was generalized, and the AO failed to establish that the assessee's transactions were part of any price manipulation. The assessee provided evidence of purchase, sale, payment, and demat entries, which were not doubted. The ITAT relied on the Delhi High Court's decision in PCIT vs. Smt. Krishna Devi, where mere increase in share prices and weak company fundamentals were held insufficient to disbelieve declared capital gains. Consequently, the addition u/s 68 was deleted.
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