https://www.taxtmi.com/caselaws?id=334868 The Tribunal partially allowed the assessee's appeal, directing the AO to assess the LTCG declared on the sale of shares and allow the exemption under section 54F. The disallowance of LTCG was deemed unsustainable due to lack of opportunity for cross-examination and failure to follow principles of natural justice. The disallowance of transfer fee was dismissed as not pressed, and the disallowance of commission paid was not further adjudicated. The Tribunal criticized the AO for prejudiced reliance on a statement without independent verification, emphasizing the importance of natural justice principles. en-us Wed, 09 Nov 2016 00:00:00 +0530 Tue, 22 Nov 2016 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334868 The Tribunal partially allowed the assessee's appeal, directing the AO to assess the LTCG declared on the sale of shares and allow the exemption under section 54F. The disallowance of LTCG was deemed unsustainable due to lack of opportunity for cross-examination and failure to follow principles of natural justice. The disallowance of transfer fee was dismissed as not pressed, and the disallowance of commission paid was not further adjudicated. The Tribunal criticized the AO for prejudiced reliance on a statement without independent verification, emphasizing the importance of natural justice principles. Case-Laws Income Tax Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334868