https://www.taxtmi.com/caselaws?id=757162 The ITAT Mumbai confirmed addition u/s 68 for bogus LTCG on share transactions and denied exemption u/s 10(38). The tribunal relied on SEBI's order finding price manipulation and trading ban on Sunrise Asian Limited shares, concluding the transactions were not genuine despite other judgments deleting similar additions. However, the presumptive addition for brokerage payments was deleted due to lack of actual material evidence of outgoing by the department. The assessee's appeal was partly allowed. en-us Wed, 31 Jan 2024 00:00:00 +0530 Fri, 16 Aug 2024 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757162 The ITAT Mumbai confirmed addition u/s 68 for bogus LTCG on share transactions and denied exemption u/s 10(38). The tribunal relied on SEBI's order finding price manipulation and trading ban on Sunrise Asian Limited shares, concluding the transactions were not genuine despite other judgments deleting similar additions. However, the presumptive addition for brokerage payments was deleted due to lack of actual material evidence of outgoing by the department. The assessee's appeal was partly allowed. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757162