https://www.taxtmi.com/caselaws?id=195047 The addition of Rs. 9,40,657/- on account of unexplained Long Term Capital Gain (LTCG) was deleted by the CIT(A) as the assessee provided comprehensive documentation to support the transactions. The Tribunal upheld the deletion, emphasizing the lack of evidence against the genuineness of the transactions and the failure of the AO to establish a connection between the sale proceeds and unaccounted money. Previous judicial precedents supporting similar transactions further strengthened the decision to dismiss the Revenue's appeal. The Cross Objection by the assessee was also dismissed. en-us Fri, 11 Feb 2011 00:00:00 +0530 Mon, 21 Aug 2023 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195047 The addition of Rs. 9,40,657/- on account of unexplained Long Term Capital Gain (LTCG) was deleted by the CIT(A) as the assessee provided comprehensive documentation to support the transactions. The Tribunal upheld the deletion, emphasizing the lack of evidence against the genuineness of the transactions and the failure of the AO to establish a connection between the sale proceeds and unaccounted money. Previous judicial precedents supporting similar transactions further strengthened the decision to dismiss the Revenue's appeal. The Cross Objection by the assessee was also dismissed. Case-Laws Income Tax Fri, 11 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195047