https://www.taxtmi.com/caselaws?id=369066 Long-term capital gain exemption on share sales was accepted where the Tribunal found the transactions genuine on the strength of purchase records, demat statements, contract notes and bank accounts. It noted that the amalgamation of the original company with the successor company had been approved by the High Court and that the revenue had produced no direct adverse material showing price manipulation, accommodation entries or broker involvement. As the share transactions were genuine, the additions as unexplained cash credits and the presumed commission as unexplained expenditure could not stand, and the additions under sections 68 and 69C were deleted. en-us Wed, 17 Oct 2018 00:00:00 +0530 Sat, 20 Oct 2018 09:58:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369066 Long-term capital gain exemption on share sales was accepted where the Tribunal found the transactions genuine on the strength of purchase records, demat statements, contract notes and bank accounts. It noted that the amalgamation of the original company with the successor company had been approved by the High Court and that the revenue had produced no direct adverse material showing price manipulation, accommodation entries or broker involvement. As the share transactions were genuine, the additions as unexplained cash credits and the presumed commission as unexplained expenditure could not stand, and the additions under sections 68 and 69C were deleted. Case-Laws Income Tax Wed, 17 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369066