https://www.taxtmi.com/caselaws?id=449380 ITAT Delhi held in favor of the assessee regarding LTCG exemption under section 10(38) and deletion of addition under section 68. The AO denied exemption claiming bogus LTCG based on SEBI interim order and investigation report, treating it as unexplained cash credit. However, the Tribunal found the assessee provided sufficient documentary evidence proving genuine transactions through banking channels, demat account, and stock exchange with STT paid. The AO relied solely on revoked SEBI interim order without proper investigation or allowing cross-examination rights. The Tribunal directed AO to accept LTCG and allow section 10(38) exemption. en-us Wed, 07 Feb 2024 00:00:00 +0530 Fri, 09 Feb 2024 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449380 ITAT Delhi held in favor of the assessee regarding LTCG exemption under section 10(38) and deletion of addition under section 68. The AO denied exemption claiming bogus LTCG based on SEBI interim order and investigation report, treating it as unexplained cash credit. However, the Tribunal found the assessee provided sufficient documentary evidence proving genuine transactions through banking channels, demat account, and stock exchange with STT paid. The AO relied solely on revoked SEBI interim order without proper investigation or allowing cross-examination rights. The Tribunal directed AO to accept LTCG and allow section 10(38) exemption. Case-Laws Income Tax Wed, 07 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449380