https://www.taxtmi.com/caselaws?id=463666 ITAT upheld the appellate authority's order as speaking and dismissed challenges to its consideration of submissions. It found the alleged share sales to be sham, sustained additions treating sale proceeds as unexplained income under s.68, and rejected the assessee's capital gains claim. The Tribunal held that third-party enquiries (stock exchanges, ROC, banks) and broker statements-including those recorded in another year-were admissible where the assessee had notice and opportunity to rebut. Declaring amounts as capital gains under s.48 did not bar assessment under s.68 when transactions are proved bogus. en-us Thu, 26 Sep 2013 00:00:00 +0530 Thu, 11 Sep 2025 12:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463666 ITAT upheld the appellate authority's order as speaking and dismissed challenges to its consideration of submissions. It found the alleged share sales to be sham, sustained additions treating sale proceeds as unexplained income under s.68, and rejected the assessee's capital gains claim. The Tribunal held that third-party enquiries (stock exchanges, ROC, banks) and broker statements-including those recorded in another year-were admissible where the assessee had notice and opportunity to rebut. Declaring amounts as capital gains under s.48 did not bar assessment under s.68 when transactions are proved bogus. Case-Laws Income Tax Thu, 26 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463666