https://www.taxtmi.com/caselaws?id=221306 The High Court of Allahabad upheld the Tribunal's decision in favor of the respondent-assessee. The court ruled that the Commissioner of Income Tax (Appeals) had the authority to review existing evidence without a remand report. Additionally, the long term capital gains claimed for the Assessment Year 2004-05 were deemed valid as the shares were sold through the Stock Exchange at genuine rates. The appeal was dismissed, affirming the legitimacy of the long term capital gains and the admissibility of evidence without a remand report. en-us Thu, 31 Jan 2013 00:00:00 +0530 Fri, 01 Mar 2013 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221306 The High Court of Allahabad upheld the Tribunal's decision in favor of the respondent-assessee. The court ruled that the Commissioner of Income Tax (Appeals) had the authority to review existing evidence without a remand report. Additionally, the long term capital gains claimed for the Assessment Year 2004-05 were deemed valid as the shares were sold through the Stock Exchange at genuine rates. The appeal was dismissed, affirming the legitimacy of the long term capital gains and the admissibility of evidence without a remand report. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221306