https://www.taxtmi.com/caselaws?id=780630 ITAT held reassessment valid and upheld AO's addition under s.68, finding credit entries and share transactions not genuine. The assessee failed to discharge the onus to prove genuineness of LTCG/sale entries; surrounding circumstances, unexplained share purchases and non-disclosure of gains indicated a sham transaction. Revenue's materials established the credits as bogus or unexplained, and the LTCG claim was treated as a façade to conceal true nature of entries. CIT(A)'s confirmation of the AO's finding was sustained; decision against the assessee. en-us Thu, 30 Oct 2025 00:00:00 +0530 Mon, 03 Nov 2025 08:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780630 ITAT held reassessment valid and upheld AO's addition under s.68, finding credit entries and share transactions not genuine. The assessee failed to discharge the onus to prove genuineness of LTCG/sale entries; surrounding circumstances, unexplained share purchases and non-disclosure of gains indicated a sham transaction. Revenue's materials established the credits as bogus or unexplained, and the LTCG claim was treated as a façade to conceal true nature of entries. CIT(A)'s confirmation of the AO's finding was sustained; decision against the assessee. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780630