https://www.taxtmi.com/caselaws?id=456298 HC upheld ITAT's deletion of a long-term capital gains addition, finding the share transactions were genuine. Court noted the assessee held shares in multiple companies for over three years, and mere suspension of trading did not prove the purchases and sales were bogus. In absence of material showing collusion between broker and assessee or introduction of unaccounted funds, the assessing officer's finding of a pre-arranged sham transaction was unjustified. Decision favorable to the assessee. en-us Mon, 15 Apr 2024 00:00:00 +0530 Mon, 16 Mar 2026 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456298 HC upheld ITAT's deletion of a long-term capital gains addition, finding the share transactions were genuine. Court noted the assessee held shares in multiple companies for over three years, and mere suspension of trading did not prove the purchases and sales were bogus. In absence of material showing collusion between broker and assessee or introduction of unaccounted funds, the assessing officer's finding of a pre-arranged sham transaction was unjustified. Decision favorable to the assessee. Case-Laws Income Tax Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456298