https://www.taxtmi.com/caselaws?id=182658 The appeal filed by the assessee was allowed by the Tribunal. The addition of Rs. 21,06,225/- as unexplained cash credit under section 68 of the Income Tax Act was deleted. The Tribunal found that the assessee had provided sufficient evidence to prove the genuineness of the share transactions through the Calcutta Stock Exchange, and the assessing officer failed to counter the assessee's claims with substantial evidence. Consequently, the Tribunal directed to tax the capital gain as declared by the assessee, overturning the decision of the assessing officer and the Commissioner of Income Tax (Appeals). en-us Fri, 04 Jun 2010 00:00:00 +0530 Mon, 16 May 2016 18:40:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182658 The appeal filed by the assessee was allowed by the Tribunal. The addition of Rs. 21,06,225/- as unexplained cash credit under section 68 of the Income Tax Act was deleted. The Tribunal found that the assessee had provided sufficient evidence to prove the genuineness of the share transactions through the Calcutta Stock Exchange, and the assessing officer failed to counter the assessee's claims with substantial evidence. Consequently, the Tribunal directed to tax the capital gain as declared by the assessee, overturning the decision of the assessing officer and the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Fri, 04 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182658