https://www.taxtmi.com/caselaws?id=180397 The Revenue's appeal against the CIT(A)'s deletion of the addition of Rs. 6,19,680/- for holding share transactions as genuine was dismissed. The Tribunal upheld the CIT(A)'s decision, noting the lack of conclusive evidence proving the transactions as bogus. The Tribunal emphasized the importance of strong surrounding circumstances to establish ingenuity, which was not present in this case. Therefore, the Revenue's appeal was rejected, and the CIT(A)'s order treating the income from share sales as capital gains was upheld. en-us Thu, 17 May 2012 00:00:00 +0530 Tue, 22 Mar 2016 18:51:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180397 The Revenue's appeal against the CIT(A)'s deletion of the addition of Rs. 6,19,680/- for holding share transactions as genuine was dismissed. The Tribunal upheld the CIT(A)'s decision, noting the lack of conclusive evidence proving the transactions as bogus. The Tribunal emphasized the importance of strong surrounding circumstances to establish ingenuity, which was not present in this case. Therefore, the Revenue's appeal was rejected, and the CIT(A)'s order treating the income from share sales as capital gains was upheld. Case-Laws Income Tax Thu, 17 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180397