https://www.taxtmi.com/caselaws?id=442586 The Tribunal partly allowed the appeals by the assessee, directing the deletion of impugned additions and acceptance of claims regarding long-term capital gains and exemptions under section 10(38). The Tribunal found lack of direct evidence linking the assessee to price manipulation or bogus transactions, leading to additions being made on mere suspicion. Consequently, the Tribunal directed the AO to delete the additions under sections 68 and 69C, and allowed the levy of interest under sections 234B and 234C for statistical purposes while dismissing the premature penalty proceedings. en-us Mon, 28 Aug 2023 00:00:00 +0530 Mon, 04 Sep 2023 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442586 The Tribunal partly allowed the appeals by the assessee, directing the deletion of impugned additions and acceptance of claims regarding long-term capital gains and exemptions under section 10(38). The Tribunal found lack of direct evidence linking the assessee to price manipulation or bogus transactions, leading to additions being made on mere suspicion. Consequently, the Tribunal directed the AO to delete the additions under sections 68 and 69C, and allowed the levy of interest under sections 234B and 234C for statistical purposes while dismissing the premature penalty proceedings. Case-Laws Income Tax Mon, 28 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442586