https://www.taxtmi.com/caselaws?id=770081 ITAT Mumbai held that the assessee successfully discharged the prima facie burden under section 68 regarding alleged bogus long-term capital gains. The Revenue Department failed to rebut the assessee's documentary evidence with corroborating material. Consequently, the addition under section 68 was deleted. The corresponding addition under section 69C for unexplained expenditure calculated as 4% commission on the alleged bogus transactions was also deleted since the substantive addition was removed. The assessee's appeal was allowed. en-us Thu, 01 May 2025 00:00:00 +0530 Tue, 06 May 2025 09:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770081 ITAT Mumbai held that the assessee successfully discharged the prima facie burden under section 68 regarding alleged bogus long-term capital gains. The Revenue Department failed to rebut the assessee's documentary evidence with corroborating material. Consequently, the addition under section 68 was deleted. The corresponding addition under section 69C for unexplained expenditure calculated as 4% commission on the alleged bogus transactions was also deleted since the substantive addition was removed. The assessee's appeal was allowed. Case-Laws Income Tax Thu, 01 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770081