https://www.taxtmi.com/caselaws?id=351196 The Tribunal found that the long-term capital gains (LTCG) arising from the sale of quoted equity shares were genuine and not unexplained cash credit under Section 68 of the Income Tax Act. The Tribunal held that the transactions were supported by substantial documentary evidence and conducted through registered brokers. The AO's conclusions were deemed to be based on suspicion without concrete evidence. Consequently, the Tribunal allowed the assessee's appeal, directing the deletion of the addition of Rs. 24,87,605 as unexplained cash credit. en-us Wed, 15 Nov 2017 00:00:00 +0530 Tue, 21 Nov 2017 09:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351196 The Tribunal found that the long-term capital gains (LTCG) arising from the sale of quoted equity shares were genuine and not unexplained cash credit under Section 68 of the Income Tax Act. The Tribunal held that the transactions were supported by substantial documentary evidence and conducted through registered brokers. The AO's conclusions were deemed to be based on suspicion without concrete evidence. Consequently, the Tribunal allowed the assessee's appeal, directing the deletion of the addition of Rs. 24,87,605 as unexplained cash credit. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351196