https://www.taxtmi.com/caselaws?id=768349 ITAT Mumbai-AT ruled in favor of assessee regarding addition u/s 68 for alleged bogus capital gains from share sale and denial of exemption u/s 10(38). AO made addition based on investigation report labeling share scrip as "tainted" without specific evidence. Court found assessee was regular share trader with proper documentation and no evidence of price rigging involvement. AO's addition based on surmises and conjectures without concrete proof of cash trail or rotation of assessee's own funds was unsustainable. Addition deleted. en-us Mon, 25 Nov 2024 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768349 ITAT Mumbai-AT ruled in favor of assessee regarding addition u/s 68 for alleged bogus capital gains from share sale and denial of exemption u/s 10(38). AO made addition based on investigation report labeling share scrip as "tainted" without specific evidence. Court found assessee was regular share trader with proper documentation and no evidence of price rigging involvement. AO's addition based on surmises and conjectures without concrete proof of cash trail or rotation of assessee's own funds was unsustainable. Addition deleted. Case-Laws Income Tax Mon, 25 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768349