https://www.taxtmi.com/caselaws?id=461013 ITAT Mumbai allowed the appeal and directed deletion of addition under section 68 relating to bogus LTCG and disallowance of exemption under section 10(38). The assessee provided complete transaction details, broker information, and banking channel evidence for share purchases/sales. AO relied solely on investigation report without independent inquiry or cross-examination, despite assessee's name not being included in the investigation list. SEBI order confirmed assessee was merely an investor without involvement in price manipulation. The tribunal found the assessee substantiated all requisite details which remained undisproved, and the investee company remained active with recent filings. en-us Mon, 30 Sep 2024 00:00:00 +0530 Thu, 06 Mar 2025 19:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461013 ITAT Mumbai allowed the appeal and directed deletion of addition under section 68 relating to bogus LTCG and disallowance of exemption under section 10(38). The assessee provided complete transaction details, broker information, and banking channel evidence for share purchases/sales. AO relied solely on investigation report without independent inquiry or cross-examination, despite assessee's name not being included in the investigation list. SEBI order confirmed assessee was merely an investor without involvement in price manipulation. The tribunal found the assessee substantiated all requisite details which remained undisproved, and the investee company remained active with recent filings. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461013