https://www.taxtmi.com/caselaws?id=463125 ITAT Mumbai held that the addition under section 68 regarding alleged bogus LTCG on sale of shares was not justified. The tribunal found that the reliance on precedents related to unexplained cash credits was misplaced, as the facts in those cases differed from the present issue concerning the genuineness of capital gains. It was concluded that CIT(A) erred in upholding the AO's addition. Consequently, the addition under section 68 was deleted, and the assessee's appeal was allowed. en-us Fri, 22 Mar 2024 00:00:00 +0530 Wed, 06 Aug 2025 17:06:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463125 ITAT Mumbai held that the addition under section 68 regarding alleged bogus LTCG on sale of shares was not justified. The tribunal found that the reliance on precedents related to unexplained cash credits was misplaced, as the facts in those cases differed from the present issue concerning the genuineness of capital gains. It was concluded that CIT(A) erred in upholding the AO's addition. Consequently, the addition under section 68 was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 22 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463125