Tax Department Fails to Prove Bogus Transactions; Section 68 Addition Overturned Due to Lack of Evidence.

Addition u/s 68 - unexplained money in the guise of share transactions - blue chip companies - rates at which purchases and sales had been made could not be shown to be manipulated - The department was unable to discharge the burden that was on it to prove that the transactions were in any manner bogus or fictitious. - HC .....

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