https://www.taxtmi.com/caselaws?id=180890 The High Court of Allahabad upheld the Tribunal's decision in favor of the Assessees, allowing their claimed long term capital gains from the sale of shares. The Court found the share transactions to be genuine based on various factors, including the direct acquisition of shares from companies, reflected purchases in balance sheets, and confirmation from stock brokers and the stock exchange. Emphasizing the Tribunal's factual determination, the Court dismissed the appeals, ruling that the sales were not sham transactions. en-us Tue, 15 Feb 2011 00:00:00 +0530 Mon, 04 Apr 2016 11:11:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180890 The High Court of Allahabad upheld the Tribunal's decision in favor of the Assessees, allowing their claimed long term capital gains from the sale of shares. The Court found the share transactions to be genuine based on various factors, including the direct acquisition of shares from companies, reflected purchases in balance sheets, and confirmation from stock brokers and the stock exchange. Emphasizing the Tribunal's factual determination, the Court dismissed the appeals, ruling that the sales were not sham transactions. Case-Laws Income Tax Tue, 15 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180890