https://www.taxtmi.com/caselaws?id=792841 The assessee substantiated share purchases through purchase bills, banking-channel payments, transfer documents, demat entries, contract notes and bank statements, and the revenue did not discredit those materials or connect the assessee with price rigging, accommodation entries, or any adverse investigation. The record also showed that the invested company's amalgamation had been approved by the High Court, and the transactions were not proved to be sham or non-genuine. Having discharged the initial onus, the burden shifted to the revenue to show that the long-term capital gain claim was bogus, which it failed to do. The assessee was therefore treated as a genuine investor and the addition under section 68 was deleted. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792841 The assessee substantiated share purchases through purchase bills, banking-channel payments, transfer documents, demat entries, contract notes and bank statements, and the revenue did not discredit those materials or connect the assessee with price rigging, accommodation entries, or any adverse investigation. The record also showed that the invested company's amalgamation had been approved by the High Court, and the transactions were not proved to be sham or non-genuine. Having discharged the initial onus, the burden shifted to the revenue to show that the long-term capital gain claim was bogus, which it failed to do. The assessee was therefore treated as a genuine investor and the addition under section 68 was deleted. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792841