https://www.taxtmi.com/caselaws?id=465676 The dominant issue was whether claimed exempt long-term capital gains under s.10(38) from share transactions were genuine, or liable to be treated as unexplained cash credits under s.68. The ITAT held that the shares across all relevant years were purchased off-market and the taxpayer failed to explain how it identified or accessed such shares; in the absence of any material contradicting the appellate authority's findings, the adverse inference of non-genuineness was sustained, and the s.10(38) exemption was denied with the s.68 addition upheld. Separately, as the underlying transactions were treated as accommodation entries, the addition under s.69C for alleged commission to entry providers was upheld, resulting in dismissal of all appeals. en-us Tue, 31 Jan 2023 00:00:00 +0530 Mon, 05 Jan 2026 14:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465676 The dominant issue was whether claimed exempt long-term capital gains under s.10(38) from share transactions were genuine, or liable to be treated as unexplained cash credits under s.68. The ITAT held that the shares across all relevant years were purchased off-market and the taxpayer failed to explain how it identified or accessed such shares; in the absence of any material contradicting the appellate authority's findings, the adverse inference of non-genuineness was sustained, and the s.10(38) exemption was denied with the s.68 addition upheld. Separately, as the underlying transactions were treated as accommodation entries, the addition under s.69C for alleged commission to entry providers was upheld, resulting in dismissal of all appeals. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465676