https://www.taxtmi.com/caselaws?id=305949 The Tribunal dismissed the appeal, upholding the Revenue Authorities' decision to reject the assessee's claim for exemption under section 10(38) of the Income Tax Act. The addition of Rs.10,12,825 to the assessee's income for the assessment year 2014-15 was affirmed due to the alleged bogus nature of the transaction involving the sale of shares of Kailash Auto Finance Limited. The Tribunal relied on judicial precedents and previous decisions, emphasizing the importance of substantiating capital gain claims and avoiding transactions with entities engaged in suspicious activities. en-us Mon, 17 Oct 2022 00:00:00 +0530 Sat, 31 Dec 2022 08:43:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305949 The Tribunal dismissed the appeal, upholding the Revenue Authorities' decision to reject the assessee's claim for exemption under section 10(38) of the Income Tax Act. The addition of Rs.10,12,825 to the assessee's income for the assessment year 2014-15 was affirmed due to the alleged bogus nature of the transaction involving the sale of shares of Kailash Auto Finance Limited. The Tribunal relied on judicial precedents and previous decisions, emphasizing the importance of substantiating capital gain claims and avoiding transactions with entities engaged in suspicious activities. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305949