https://www.taxtmi.com/caselaws?id=394383 The appellate tribunal upheld the lower authorities' findings in a case concerning the addition of Long Term Capital Gain (LTCG) on the sale of listed equity shares exempt under Section 10(38) of the Income Tax Act. The tribunal agreed that the transactions were sham and used to launder black money, supporting the AO's additions under Sections 68 and 69C. Despite the assessee's claims of genuine transactions, the lack of concrete evidence and strong indicators of manipulation led to the dismissal of the appeal, with previous Delhi High Court judgments supporting the decision. en-us Thu, 23 Jan 2020 00:00:00 +0530 Fri, 10 Apr 2020 13:10:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394383 The appellate tribunal upheld the lower authorities' findings in a case concerning the addition of Long Term Capital Gain (LTCG) on the sale of listed equity shares exempt under Section 10(38) of the Income Tax Act. The tribunal agreed that the transactions were sham and used to launder black money, supporting the AO's additions under Sections 68 and 69C. Despite the assessee's claims of genuine transactions, the lack of concrete evidence and strong indicators of manipulation led to the dismissal of the appeal, with previous Delhi High Court judgments supporting the decision. Case-Laws Income Tax Thu, 23 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394383