https://www.taxtmi.com/caselaws?id=277366 The tribunal upheld the Assessing Officer's decision, dismissing the appeal and affirming the addition of Rs. 83,57,578/- as undisclosed income under Section 68. The tribunal rejected the claim of Long Term Capital Gains (LTCG) exemption under Section 10(38) due to the assessee's failure to substantiate the genuineness of the transactions, the unlikely high returns, and the absence of credible evidence for the initial investment and cash payments. The tribunal emphasized the importance of surrounding circumstances in evaluating transaction authenticity and concluded that the transactions were orchestrated to evade taxes. en-us Wed, 18 Apr 2018 00:00:00 +0530 Mon, 16 Mar 2026 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277366 The tribunal upheld the Assessing Officer's decision, dismissing the appeal and affirming the addition of Rs. 83,57,578/- as undisclosed income under Section 68. The tribunal rejected the claim of Long Term Capital Gains (LTCG) exemption under Section 10(38) due to the assessee's failure to substantiate the genuineness of the transactions, the unlikely high returns, and the absence of credible evidence for the initial investment and cash payments. The tribunal emphasized the importance of surrounding circumstances in evaluating transaction authenticity and concluded that the transactions were orchestrated to evade taxes. Case-Laws Income Tax Wed, 18 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277366