https://www.taxtmi.com/caselaws?id=358870 The Tribunal found that the Long Term Capital Gains (LTCG) declared by the assessee were genuine, supported by transactions routed through proper channels and backed by documentary evidence. The assessment, based on conjectures without substantial proof, was deemed flawed. Emphasizing the importance of natural justice, the Tribunal criticized the lack of consideration for direct evidence and cross-examination opportunities. Rulings from previous cases were cited to support the assessee's position. Consequently, the Tribunal upheld the decision in favor of the assessee, dismissing the Revenue's appeals and treating the gains as legitimate LTCG. en-us Mon, 16 Apr 2018 00:00:00 +0530 Fri, 20 Apr 2018 05:57:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358870 The Tribunal found that the Long Term Capital Gains (LTCG) declared by the assessee were genuine, supported by transactions routed through proper channels and backed by documentary evidence. The assessment, based on conjectures without substantial proof, was deemed flawed. Emphasizing the importance of natural justice, the Tribunal criticized the lack of consideration for direct evidence and cross-examination opportunities. Rulings from previous cases were cited to support the assessee's position. Consequently, the Tribunal upheld the decision in favor of the assessee, dismissing the Revenue's appeals and treating the gains as legitimate LTCG. Case-Laws Income Tax Mon, 16 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358870