https://www.taxtmi.com/caselaws?id=782125 ITAT Rajkot-AT held that the alleged bogus long-term capital gains could not be taxed as unexplained cash credits u/s 68. The assessee had purchased shares online, paid through banking channels, and held them in demat form, with subsequent sale consideration also received through banking channels. The AO brought no independent evidence of any arrangement to introduce unaccounted money, and his findings were based only on assumptions. Relying on its earlier decision in a similar matter, the ITAT deleted the additions and allowed the assessee's appeal. en-us Tue, 14 Oct 2025 00:00:00 +0530 Thu, 20 Nov 2025 10:03:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782125 ITAT Rajkot-AT held that the alleged bogus long-term capital gains could not be taxed as unexplained cash credits u/s 68. The assessee had purchased shares online, paid through banking channels, and held them in demat form, with subsequent sale consideration also received through banking channels. The AO brought no independent evidence of any arrangement to introduce unaccounted money, and his findings were based only on assumptions. Relying on its earlier decision in a similar matter, the ITAT deleted the additions and allowed the assessee's appeal. Case-Laws Income Tax Tue, 14 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782125