https://www.taxtmi.com/caselaws?id=339681 The Revenue's appeal challenging the classification of income from share transactions as capital gains was dismissed. The Tribunal upheld the CIT(A)'s decision, emphasizing the assessee's consistent treatment of transactions as investments. Regarding the addition of unexplained cash credits under Section 68, the Tribunal found the AO's actions lacking, noting the failure to disallow corresponding purchases and the absence of further inquiries to disprove the assessee's claims. The Tribunal reversed the lower authorities' decisions, allowing the assessee's appeal and deleting the addition under Section 68. en-us Thu, 23 Feb 2017 00:00:00 +0530 Mon, 06 Mar 2017 09:05:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339681 The Revenue's appeal challenging the classification of income from share transactions as capital gains was dismissed. The Tribunal upheld the CIT(A)'s decision, emphasizing the assessee's consistent treatment of transactions as investments. Regarding the addition of unexplained cash credits under Section 68, the Tribunal found the AO's actions lacking, noting the failure to disallow corresponding purchases and the absence of further inquiries to disprove the assessee's claims. The Tribunal reversed the lower authorities' decisions, allowing the assessee's appeal and deleting the addition under Section 68. Case-Laws Income Tax Thu, 23 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339681