SEBI Investigation of broker Alone Insufficient to Label Assessee’s LTCG as Bogus

ITO Vs Indravadan Jain HUF (ITAT Mumbai)

In the realm of tax litigation, the case of ITO vs. Indravadan Jain HUF presented before the Income Tax Appellate Tribunal (ITAT) in Mumbai stands out as a significant ruling that addresses the genuineness of share transactions and the implications of investigations on brokers by regulatory authorities. This article delves into the tribunal’s reasoning, the facts of the case, and its implications for similar cases in the future.

Background of the Case: T

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