https://www.taxtmi.com/caselaws?id=462790 ITAT Pune reversed CIT(A)'s order deleting additions under sections 10(38) and 68. The tribunal held that appellant failed to prove genuineness of share transactions and unsecured loans, constituting bogus long-term capital gains. Relying on investigation reports and SEBI findings, the tribunal applied doctrine of fraud, ruling transactions void ab-initio as sham devices to convert undisclosed income. The tribunal distinguished favorable HC precedents as not involving fraud doctrine, restored AO's assessment order denying capital gains exemption. en-us Wed, 27 Sep 2023 00:00:00 +0530 Wed, 16 Jul 2025 08:17:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462790 ITAT Pune reversed CIT(A)'s order deleting additions under sections 10(38) and 68. The tribunal held that appellant failed to prove genuineness of share transactions and unsecured loans, constituting bogus long-term capital gains. Relying on investigation reports and SEBI findings, the tribunal applied doctrine of fraud, ruling transactions void ab-initio as sham devices to convert undisclosed income. The tribunal distinguished favorable HC precedents as not involving fraud doctrine, restored AO's assessment order denying capital gains exemption. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462790