https://www.taxtmi.com/caselaws?id=176335 The Tribunal dismissed the revenue's appeal and affirmed the CIT(A)'s decision to delete the addition of income from other sources related to long term capital gains on the sale of shares. The Tribunal found the share transactions genuine, emphasizing that off-market transactions are not illegal and the AO failed to consider the evidence provided by the assessee. Additionally, the Tribunal stressed the importance of verifying share transfers with the Registrar of Companies to ascertain transaction authenticity, ultimately upholding the CIT(A)'s decision based on evidence and legal precedents. en-us Wed, 24 Feb 2010 00:00:00 +0530 Mon, 18 Sep 2023 23:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176335 The Tribunal dismissed the revenue's appeal and affirmed the CIT(A)'s decision to delete the addition of income from other sources related to long term capital gains on the sale of shares. The Tribunal found the share transactions genuine, emphasizing that off-market transactions are not illegal and the AO failed to consider the evidence provided by the assessee. Additionally, the Tribunal stressed the importance of verifying share transfers with the Registrar of Companies to ascertain transaction authenticity, ultimately upholding the CIT(A)'s decision based on evidence and legal precedents. Case-Laws Income Tax Wed, 24 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176335