https://www.taxtmi.com/caselaws?id=339033 The Revenue's appeal against the CIT(A)'s decision allowing the assessee's claim of capital gains was dismissed. The CIT(A) supported the assessee's position, emphasizing the validity of the banakhat document and accepting the claim of capital gains. The dispute over the genuineness of the banakhat dated 16.12.1986, failure to prove advance payment, and rejection of the assessee's explanation were resolved in favor of the assessee. The rejection of arguments related to vendor summoning, registered document, and non-registration supported the decision to treat the sum as capital gains rather than income from other sources. en-us Tue, 14 Feb 2017 00:00:00 +0530 Fri, 17 Feb 2017 08:42:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339033 The Revenue's appeal against the CIT(A)'s decision allowing the assessee's claim of capital gains was dismissed. The CIT(A) supported the assessee's position, emphasizing the validity of the banakhat document and accepting the claim of capital gains. The dispute over the genuineness of the banakhat dated 16.12.1986, failure to prove advance payment, and rejection of the assessee's explanation were resolved in favor of the assessee. The rejection of arguments related to vendor summoning, registered document, and non-registration supported the decision to treat the sum as capital gains rather than income from other sources. Case-Laws Income Tax Tue, 14 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339033