https://www.taxtmi.com/caselaws?id=189640 The tribunal allowed the appeal, determining that the gains on the sale of shares were long-term capital gains eligible for exemption under section 10(38) of the Income-tax Act. The tribunal held that the date of purchase should be based on the broker's note, not dematerialization date, rejecting the AO's classification as short-term gains. Additionally, the tribunal found the purchase value of shares was not unexplained investment and upheld the validity of transactions based on evidence provided by the appellant, discrediting contradictory statements by a witness. en-us Wed, 01 Aug 2012 00:00:00 +0530 Thu, 15 Feb 2018 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189640 The tribunal allowed the appeal, determining that the gains on the sale of shares were long-term capital gains eligible for exemption under section 10(38) of the Income-tax Act. The tribunal held that the date of purchase should be based on the broker's note, not dematerialization date, rejecting the AO's classification as short-term gains. Additionally, the tribunal found the purchase value of shares was not unexplained investment and upheld the validity of transactions based on evidence provided by the appellant, discrediting contradictory statements by a witness. Case-Laws Income Tax Wed, 01 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189640