https://www.taxtmi.com/caselaws?id=422967 The Tribunal upheld the Assessing Officer's decision to disallow the exemption claimed under section 10(38) of the Income Tax Act for long-term capital gains, adding the gains as unexplained cash credit under section 68. The Tribunal also affirmed the addition of deemed dividend under section 2(22)(e) due to an advance received by the assessee, as conditions were met. The decisions were based on investigations showing the transactions were non-genuine and the fulfillment of deemed dividend criteria. en-us Tue, 24 May 2022 00:00:00 +0530 Wed, 25 May 2022 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422967 The Tribunal upheld the Assessing Officer's decision to disallow the exemption claimed under section 10(38) of the Income Tax Act for long-term capital gains, adding the gains as unexplained cash credit under section 68. The Tribunal also affirmed the addition of deemed dividend under section 2(22)(e) due to an advance received by the assessee, as conditions were met. The decisions were based on investigations showing the transactions were non-genuine and the fulfillment of deemed dividend criteria. Case-Laws Income Tax Tue, 24 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422967