https://www.taxtmi.com/caselaws?id=252449 The court upheld the decisions of the lower authorities regarding the addition under Section 68 of the Income Tax Act, 1961, emphasizing the importance of substantiating the genuineness of transactions. The appellant's claim of genuine capital gains on the sale of shares was rejected, with the court finding discrepancies in explanations and actions, leading to the dismissal of the appeals. The court concluded that the findings of fact by the authorities were not erroneous, and the judgment cited by the appellant was deemed inapplicable. Proper documentation and evidence are crucial to support income claims and transactions to avoid adverse consequences. en-us Tue, 16 Sep 2014 00:00:00 +0530 Mon, 16 Mar 2026 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252449 The court upheld the decisions of the lower authorities regarding the addition under Section 68 of the Income Tax Act, 1961, emphasizing the importance of substantiating the genuineness of transactions. The appellant's claim of genuine capital gains on the sale of shares was rejected, with the court finding discrepancies in explanations and actions, leading to the dismissal of the appeals. The court concluded that the findings of fact by the authorities were not erroneous, and the judgment cited by the appellant was deemed inapplicable. Proper documentation and evidence are crucial to support income claims and transactions to avoid adverse consequences. Case-Laws Income Tax Tue, 16 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252449