https://www.taxtmi.com/caselaws?id=787518 Long-term capital gains exemption under Section 10(38) was allowable where dealings in listed shares were executed through a recognised stock exchange, supported by demat records, contract notes, bank payments and payment of STT; revenue must prove transactions were sham, accommodation entries, or routed back to the assessee by establishing a direct nexus with entry operators or price rigging, and mere suspicion or general reports are insufficient. Absent cogent material linking the assessee to manipulation, denial of exemption is unsustainable and the addition must be deleted. en-us Thu, 05 Mar 2026 00:00:00 +0530 Sat, 07 Mar 2026 08:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787518 Long-term capital gains exemption under Section 10(38) was allowable where dealings in listed shares were executed through a recognised stock exchange, supported by demat records, contract notes, bank payments and payment of STT; revenue must prove transactions were sham, accommodation entries, or routed back to the assessee by establishing a direct nexus with entry operators or price rigging, and mere suspicion or general reports are insufficient. Absent cogent material linking the assessee to manipulation, denial of exemption is unsustainable and the addition must be deleted. Case-Laws Income Tax Thu, 05 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787518