https://www.taxtmi.com/caselaws?id=247116 The Tribunal upheld the decisions of the Assessing Officer (AO) and Commissioner of Income Tax (Appeals) (CIT(A)), confirming that the Long Term Capital Gain (LTCG) claimed by the assessee was treated as income from other sources. The Tribunal found the share transactions suspicious, considering the low purchase prices and high selling prices, and concluded they were not genuine but a means to channelize unaccounted income. The voluntary surrender of income by the assessee, without coercion or retraction, supported this decision. Consequently, the appeal was dismissed, and the LTCG was upheld as income from other sources. en-us Tue, 04 Mar 2014 00:00:00 +0530 Fri, 02 May 2014 06:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247116 The Tribunal upheld the decisions of the Assessing Officer (AO) and Commissioner of Income Tax (Appeals) (CIT(A)), confirming that the Long Term Capital Gain (LTCG) claimed by the assessee was treated as income from other sources. The Tribunal found the share transactions suspicious, considering the low purchase prices and high selling prices, and concluded they were not genuine but a means to channelize unaccounted income. The voluntary surrender of income by the assessee, without coercion or retraction, supported this decision. Consequently, the appeal was dismissed, and the LTCG was upheld as income from other sources. Case-Laws Income Tax Tue, 04 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247116