https://www.taxtmi.com/caselaws?id=764325 ITAT Mumbai ruled in favor of the assessee regarding LTCG from share transactions in MPL scrip conducted on BSE. The tribunal found no adverse SEBI findings against the scrip, and the AO failed to reject primary evidence during assessment. Following Bombay HC precedent in Shyam R. Pawar, the tribunal held that when share transactions are substantiated by DEMAT statements and contract notes without proof of bogus nature, capital gains cannot be treated as unaccounted income under Section 68. No evidence supported allegations of price rigging or black money circulation. en-us Mon, 06 Jan 2025 00:00:00 +0530 Wed, 10 Jun 2026 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764325 ITAT Mumbai ruled in favor of the assessee regarding LTCG from share transactions in MPL scrip conducted on BSE. The tribunal found no adverse SEBI findings against the scrip, and the AO failed to reject primary evidence during assessment. Following Bombay HC precedent in Shyam R. Pawar, the tribunal held that when share transactions are substantiated by DEMAT statements and contract notes without proof of bogus nature, capital gains cannot be treated as unaccounted income under Section 68. No evidence supported allegations of price rigging or black money circulation. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764325