Taxpayer Denied LTCG Exemption u/s 10(38) for Failing to Prove Authenticity of Share Transactions Amid Price Surge.

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....Bogus LTCG - exemption under section 10(38) denied - The onus was on the assessee to prove the transaction leading to claim of long-term capital gain was a genuine transaction. The assessee failed to justify manifold increase in the prices of the shares despite weak financials of the companies.....