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Court Rules Capital Gains Cannot Be Deemed Bogus Without Direct Evidence, Citing Section 68 of Income Tax Act.

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....Bogus LTCG - Unexplained cash credit u/s 68 - Reliance on information unearthed from third party - the capital gain earned by the assessee cannot held bogus merely on the basis of some report which was unearthed in case of third party/parties unless cogent material brought against particular assessee - AT....

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Court Rules Capital Gains Cannot Be Deemed Bogus Without Direct Evidence, Citing Section 68 of Income Tax Act.