ITAT Shields Investor From Tax; Stock Exchange Trades Trump Dept Presumptions

The ITAT ruled that documented stock-exchange transactions cannot be disregarded by the Tax Department based on mere presumptions of bogus trading. It held that once investments and transactions are supported by proper demat and bank evidence, the gains must be accepted as genuine. The decision safeguards bona fide investors from arbitrary tax additions and reinforces the principle that substantiated evidence outweighs suspicion in capital-market taxation.