https://www.taxtmi.com/caselaws?id=771364 The ITAT upheld the CIT(A)'s deletion of a Rs. 1,99,42,030/- addition under Section 68 of the Income Tax Act. The Tribunal rejected the Revenue's claim of share transaction manipulation, emphasizing that transactions on public stock exchanges were conducted with transparency. Finding no direct evidence of collusive activity, the Tribunal dismissed the Revenue's appeal and confirmed the assessee's long-term capital gains claim. en-us Wed, 12 Mar 2025 00:00:00 +0530 Sat, 24 May 2025 09:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771364 The ITAT upheld the CIT(A)'s deletion of a Rs. 1,99,42,030/- addition under Section 68 of the Income Tax Act. The Tribunal rejected the Revenue's claim of share transaction manipulation, emphasizing that transactions on public stock exchanges were conducted with transparency. Finding no direct evidence of collusive activity, the Tribunal dismissed the Revenue's appeal and confirmed the assessee's long-term capital gains claim. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771364