https://www.taxtmi.com/caselaws?id=768433 ITAT Mumbai allowed the assessee's appeal, deleting additions under sections 68 and 69C. The tribunal held that the AO incorrectly treated share transactions as bogus without proper evidence. The Revenue failed to establish price manipulation or provide adverse material from sworn statements. The AO did not examine the SEBI-registered broker or issue summons, proceeding without finding fault in the assessee's evidence. The tribunal allowed long-term capital gains exemption and deleted the alleged commission payment addition. en-us Fri, 04 Apr 2025 00:00:00 +0530 Mon, 07 Apr 2025 19:04:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768433 ITAT Mumbai allowed the assessee's appeal, deleting additions under sections 68 and 69C. The tribunal held that the AO incorrectly treated share transactions as bogus without proper evidence. The Revenue failed to establish price manipulation or provide adverse material from sworn statements. The AO did not examine the SEBI-registered broker or issue summons, proceeding without finding fault in the assessee's evidence. The tribunal allowed long-term capital gains exemption and deleted the alleged commission payment addition. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768433