Case Law Analysis
|Income Tax Appellate Tribunal
Section 10(38) IT Act | LTCG Exemption Cannot Be Denied on Mere Suspicion of Bogus Transactions: ITAT Delhi
ITAT Delhi rules that Long Term Capital Gains exemption under Section 10(38) cannot be denied without concrete evidence linking the assessee to bogus transactions. The tribunal set aside additions made solely on departmental investigations, reinforcing the need for direct proof in tax disputes.