https://www.taxtmi.com/caselaws?id=770337 ITAT Mumbai upheld CIT(A)'s decision allowing assessee's claim for dividend exemption u/s.10(35) and set-off of short term capital loss from mutual fund investments. The tribunal found no evidence of sham transactions or manipulation by the fund house, noting that AO failed to invoke Section 94(7) provisions and relied on general SEBI circulars without specific enquiry against the fund. The assessee's investments were genuine market transactions with proper documentation, and the fund remained active with competitive returns, dismissing Revenue's appeal. en-us Wed, 30 Apr 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770337 ITAT Mumbai upheld CIT(A)'s decision allowing assessee's claim for dividend exemption u/s.10(35) and set-off of short term capital loss from mutual fund investments. The tribunal found no evidence of sham transactions or manipulation by the fund house, noting that AO failed to invoke Section 94(7) provisions and relied on general SEBI circulars without specific enquiry against the fund. The assessee's investments were genuine market transactions with proper documentation, and the fund remained active with competitive returns, dismissing Revenue's appeal. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770337