https://www.taxtmi.com/caselaws?id=263978 The Appellate Tribunal ruled in favor of the assessee, emphasizing the need for concrete evidence to reject a claim and highlighting that suspicion alone is insufficient to deem a loss as not genuine. The decision underscored that tax authorities cannot dictate selling prices and upheld the genuineness of the loss incurred by the assessee in the sale of shares. The Tribunal directed the deletion of the disallowance on the sale of shares, granting relief to the assessee and emphasizing compliance with the law in conducting business. en-us Fri, 21 Aug 2015 00:00:00 +0530 Tue, 15 Sep 2015 07:14:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263978 The Appellate Tribunal ruled in favor of the assessee, emphasizing the need for concrete evidence to reject a claim and highlighting that suspicion alone is insufficient to deem a loss as not genuine. The decision underscored that tax authorities cannot dictate selling prices and upheld the genuineness of the loss incurred by the assessee in the sale of shares. The Tribunal directed the deletion of the disallowance on the sale of shares, granting relief to the assessee and emphasizing compliance with the law in conducting business. Case-Laws Income Tax Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263978