https://www.taxtmi.com/caselaws?id=191869 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,78,26,685 on account of long term capital gain. The CIT(A) emphasized the documentary evidence supporting the genuineness of the transaction, including the purchase and sale of shares through recognized stock brokers, receipt of dividends, and compliance with tax regulations. The Tribunal found that the Assessing Officer's reliance on suspicion without concrete evidence was unjustified, especially considering the lack of incriminating evidence found during search proceedings. Consequently, the Revenue's appeal was dismissed. en-us Wed, 20 Jul 2016 00:00:00 +0530 Sat, 29 Apr 2017 10:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191869 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,78,26,685 on account of long term capital gain. The CIT(A) emphasized the documentary evidence supporting the genuineness of the transaction, including the purchase and sale of shares through recognized stock brokers, receipt of dividends, and compliance with tax regulations. The Tribunal found that the Assessing Officer's reliance on suspicion without concrete evidence was unjustified, especially considering the lack of incriminating evidence found during search proceedings. Consequently, the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 20 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191869