https://www.taxtmi.com/caselaws?id=786728 Denial of exemption under section 10(38) and treatment of long term capital gains as unexplained income under section 68 was examined on documentary and market evidence. The Tribunal held that where share transfers occurred through recognised exchange with dematerialised trades, contract notes, share certificates, bank payments and payment of Securities Transaction Tax, and adverse third party statements relied on by revenue were not produced for cross examination, the revenue failed to discharge the onus to prove sham transactions on the preponderance of probabilities; result favoured the assessee. en-us Mon, 16 Feb 2026 00:00:00 +0530 Wed, 18 Feb 2026 08:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786728 Denial of exemption under section 10(38) and treatment of long term capital gains as unexplained income under section 68 was examined on documentary and market evidence. The Tribunal held that where share transfers occurred through recognised exchange with dematerialised trades, contract notes, share certificates, bank payments and payment of Securities Transaction Tax, and adverse third party statements relied on by revenue were not produced for cross examination, the revenue failed to discharge the onus to prove sham transactions on the preponderance of probabilities; result favoured the assessee. Case-Laws Income Tax Mon, 16 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786728