https://www.taxtmi.com/caselaws?id=195045 The ITAT allowed the appeals, ruling that the long-term capital gain on the sale of shares was genuine and exempt under Section 10(38) of the Income Tax Act. Additionally, the gift received was deemed genuine as it was received before the applicability of Section 56(v), leading to the direction to delete the additions made by the AO. en-us Fri, 19 Apr 2013 00:00:00 +0530 Mon, 21 Aug 2023 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195045 The ITAT allowed the appeals, ruling that the long-term capital gain on the sale of shares was genuine and exempt under Section 10(38) of the Income Tax Act. Additionally, the gift received was deemed genuine as it was received before the applicability of Section 56(v), leading to the direction to delete the additions made by the AO. Case-Laws Income Tax Fri, 19 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195045