Genuineness of the transaction is to be proved by the person who substantially asserts the same By Anand Gupta TaxGuru

Genuineness of the transaction is to be proved by the person who substantially asserts the same A transaction needs to be proved to be genuine by the person who substantially asserts the same. Once the assessee has been called upon to prove the genuineness of the trading of the shares leading to LTCG gain, the onus lies upon him which he fails to discharge in the present matter.

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