https://www.taxtmi.com/caselaws?id=435285 The Tribunal upheld the Assessing Officer's decision to treat the Long Term Capital Gains (LTCG) claimed by the assessee as unexplained income under section 68 for the Assessment Year 2015-16. The Tribunal found the share transactions to be sham transactions aimed at evading tax, citing the suspicious nature of the transactions and the significant increase in share value without proper explanation. Despite the absence of the assessee during the appeal, the Tribunal dismissed the appeal and affirmed the addition of LTCG as unexplained income, along with quantifying unexplained expenditure for commission. en-us Tue, 14 Mar 2023 00:00:00 +0530 Thu, 16 Mar 2023 08:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435285 The Tribunal upheld the Assessing Officer's decision to treat the Long Term Capital Gains (LTCG) claimed by the assessee as unexplained income under section 68 for the Assessment Year 2015-16. The Tribunal found the share transactions to be sham transactions aimed at evading tax, citing the suspicious nature of the transactions and the significant increase in share value without proper explanation. Despite the absence of the assessee during the appeal, the Tribunal dismissed the appeal and affirmed the addition of LTCG as unexplained income, along with quantifying unexplained expenditure for commission. Case-Laws Income Tax Tue, 14 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435285