https://www.taxtmi.com/caselaws?id=212687 The High Court dismissed the tax appeals, upholding the Tribunal's decision that the transactions involving unexplained cash credits for gifts and the disallowance of set-off of short-term capital losses were non-genuine and contrived for tax benefits. The court found no errors in the detailed findings and reasoning of the Tribunal, emphasizing the factual nature of the issues and the substantial evidence supporting the adjudicating authorities' conclusions. The appeals were dismissed based on the lack of genuineness in the transactions and the attempt to offset capital gains through contrived means. en-us Mon, 23 Jan 2012 00:00:00 +0530 Tue, 01 May 2012 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212687 The High Court dismissed the tax appeals, upholding the Tribunal's decision that the transactions involving unexplained cash credits for gifts and the disallowance of set-off of short-term capital losses were non-genuine and contrived for tax benefits. The court found no errors in the detailed findings and reasoning of the Tribunal, emphasizing the factual nature of the issues and the substantial evidence supporting the adjudicating authorities' conclusions. The appeals were dismissed based on the lack of genuineness in the transactions and the attempt to offset capital gains through contrived means. Case-Laws Income Tax Mon, 23 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212687