https://www.taxtmi.com/caselaws?id=341893 The Tribunal allowed the appeals filed by the assessee, directing the Assessing Officer to treat the gains from the sale of shares as capital gains. The reassessment proceedings were quashed due to the lack of independent opinion formation by the A.O. and the denial of cross-examination rights to the assessee. The Tribunal emphasized the importance of providing opportunities for cross-examination and not relying solely on third-party statements. The order was pronounced on March 9, 2017, in open court. en-us Thu, 09 Mar 2017 00:00:00 +0530 Tue, 18 Apr 2017 20:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341893 The Tribunal allowed the appeals filed by the assessee, directing the Assessing Officer to treat the gains from the sale of shares as capital gains. The reassessment proceedings were quashed due to the lack of independent opinion formation by the A.O. and the denial of cross-examination rights to the assessee. The Tribunal emphasized the importance of providing opportunities for cross-examination and not relying solely on third-party statements. The order was pronounced on March 9, 2017, in open court. Case-Laws Income Tax Thu, 09 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341893