Court Declares SRK Industries Share Transaction Void; Confirms Section 68 Additions for Bogus LTCG as Sham Transaction.

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....Addition u/s 68 - Bogus LTCG - Applying the said doctrine, we have no hesitation to hold that the transaction of purchase and sale of shares of SRK Industries under consideration before us is void ab-initio, this is nothing but sham, make believe and colourful device adopted with excellent paper work with intention bringing the undisclosed income into books of account - Additions confirmed - AT....