https://www.taxtmi.com/caselaws?id=385489 The Tribunal upheld the decisions of the CIT(A) and the AO, dismissing the appeal filed by the assessee. The addition of Rs. 21,92,278/- under Section 68 of the Income Tax Act and the denial of Long Term Capital Gains (LTCG) exemption under Section 10(38) were affirmed. The Tribunal found that the transactions involving shares of M/s. HPC Bio Ltd. were not genuine but part of a scheme to create bogus LTCG entries, relying on evidence from the Directorate of Investigation and SEBI. en-us Wed, 28 Aug 2019 00:00:00 +0530 Fri, 06 Sep 2019 07:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385489 The Tribunal upheld the decisions of the CIT(A) and the AO, dismissing the appeal filed by the assessee. The addition of Rs. 21,92,278/- under Section 68 of the Income Tax Act and the denial of Long Term Capital Gains (LTCG) exemption under Section 10(38) were affirmed. The Tribunal found that the transactions involving shares of M/s. HPC Bio Ltd. were not genuine but part of a scheme to create bogus LTCG entries, relying on evidence from the Directorate of Investigation and SEBI. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385489