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Section 68: Share Purchase Additions Need Evidence, Not Suspicion or Assumptions, Even with Rising Share Prices.

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Full Text of the Document

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....Addition u/s 68 - bogus purchase of shares - paper transactions - So far as the huge rise in the sale price of the shares is concerned, it is trite law that the additions could not be made merely on the basis of suspicion, conjectures or surmises.....

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