https://www.taxtmi.com/caselaws?id=334418 The Tribunal dismissed both appeals filed by the Revenue, upholding the CIT(A)'s decision. The long-term capital gain declared by the assessee was accepted, addition related to alleged commission expenses was deleted, and the penalty under section 271(1)(c) of the Income Tax Act was cancelled. The Tribunal found the evidence provided by the assessee sufficient to prove the genuineness of the transactions, and the AO failed to substantiate the claim of bogus transactions. en-us Wed, 21 Sep 2016 00:00:00 +0530 Mon, 03 Apr 2017 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334418 The Tribunal dismissed both appeals filed by the Revenue, upholding the CIT(A)'s decision. The long-term capital gain declared by the assessee was accepted, addition related to alleged commission expenses was deleted, and the penalty under section 271(1)(c) of the Income Tax Act was cancelled. The Tribunal found the evidence provided by the assessee sufficient to prove the genuineness of the transactions, and the AO failed to substantiate the claim of bogus transactions. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334418