https://www.taxtmi.com/caselaws?id=754449 ITAT Delhi upheld addition under section 68 and disallowed deduction under section 10(38) for alleged bogus long-term capital gains. Despite assessee holding shares for over one year, selling on recognized stock exchange, and paying STT, the tribunal found purchase payments made in cash without banking channel verification made transactions non-verifiable. Assessee failed to prove source of purchase funds and was not a regular share investor. The tribunal concluded transactions were against human probability and confirmed CIT(A)'s decision adding the amount to taxable income. en-us Thu, 20 Jun 2024 00:00:00 +0530 Tue, 25 Jun 2024 08:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754449 ITAT Delhi upheld addition under section 68 and disallowed deduction under section 10(38) for alleged bogus long-term capital gains. Despite assessee holding shares for over one year, selling on recognized stock exchange, and paying STT, the tribunal found purchase payments made in cash without banking channel verification made transactions non-verifiable. Assessee failed to prove source of purchase funds and was not a regular share investor. The tribunal concluded transactions were against human probability and confirmed CIT(A)'s decision adding the amount to taxable income. Case-Laws Income Tax Thu, 20 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754449