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Section 68: Fraudulent Long-Term Capital Gains Scheme Deemed Void, Principles of Natural Justice Inapplicable.

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....Addition u/s 68 - bogus LTCG - The principle of fraud can be squarely applied to the facts of the present case and principles of natural justice have no application. - the transaction of purchase and sale of shares 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. - AT....

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Section 68: Fraudulent Long-Term Capital Gains Scheme Deemed Void, Principles of Natural Justice Inapplicable.