https://www.taxtmi.com/caselaws?id=795940 Bogus share-trading loss was treated as unsupported because the taxpayer neither produced documents substantiating the claimed loss nor appeared before the Assessing Officer. The article notes that the High Court regarded the Tribunal's deletion of the disallowance as perverse, finding that its reliance on a retracted statement on oath and its observations on cross-examination overlooked material facts and reflected non-application of mind. The Supreme Court condoned delay and dismissed the Special Leave Petition, finding no ground to interfere with the High Court's order. en-us Mon, 27 Jul 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795940 Bogus share-trading loss was treated as unsupported because the taxpayer neither produced documents substantiating the claimed loss nor appeared before the Assessing Officer. The article notes that the High Court regarded the Tribunal's deletion of the disallowance as perverse, finding that its reliance on a retracted statement on oath and its observations on cross-examination overlooked material facts and reflected non-application of mind. The Supreme Court condoned delay and dismissed the Special Leave Petition, finding no ground to interfere with the High Court's order. Case-Laws Income Tax Mon, 27 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795940