https://www.taxtmi.com/caselaws?id=327637 The Appellate Tribunal ruled in favor of the Appellant, directing the Assessing Officer to delete the additions made on the grounds of incorrectly treating Long Term Capital Gain as Short Term Capital Gain. The Tribunal found that the shares were held for a significant period, qualifying for long term gain treatment under the Income Tax Act. The Tribunal also criticized the Assessing Officer for making assumptions without proper consideration of documentary evidence and not providing the Appellant with a fair opportunity to address discrepancies, ultimately overturning the previous decisions and accepting the appeal. en-us Wed, 06 Apr 2016 00:00:00 +0530 Mon, 16 May 2016 09:59:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327637 The Appellate Tribunal ruled in favor of the Appellant, directing the Assessing Officer to delete the additions made on the grounds of incorrectly treating Long Term Capital Gain as Short Term Capital Gain. The Tribunal found that the shares were held for a significant period, qualifying for long term gain treatment under the Income Tax Act. The Tribunal also criticized the Assessing Officer for making assumptions without proper consideration of documentary evidence and not providing the Appellant with a fair opportunity to address discrepancies, ultimately overturning the previous decisions and accepting the appeal. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327637