https://www.taxtmi.com/caselaws?id=433982 The appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals) confirming the addition of Long-Term Capital Gain (LTCG) as bogus was dismissed. The Assessing Officer found discrepancies in the shares' purchase and sale transactions, rejecting the claim of LTCG under section 10(38) of the Income-tax Act. The disputed amount was added to the assessee's total income as unexplained cash credit under section 68 of the Act. The Tribunal upheld the decision, dismissing the appeal and aligning with the Revenue Authorities' stance on the matter. en-us Tue, 22 Nov 2022 00:00:00 +0530 Tue, 14 Feb 2023 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433982 The appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals) confirming the addition of Long-Term Capital Gain (LTCG) as bogus was dismissed. The Assessing Officer found discrepancies in the shares' purchase and sale transactions, rejecting the claim of LTCG under section 10(38) of the Income-tax Act. The disputed amount was added to the assessee's total income as unexplained cash credit under section 68 of the Act. The Tribunal upheld the decision, dismissing the appeal and aligning with the Revenue Authorities' stance on the matter. Case-Laws Income Tax Tue, 22 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433982