https://www.taxtmi.com/caselaws?id=273324 The Tribunal allowed the appeal of the assessee concerning the denial of exemption under section 10(38) of the Income Tax Act and the addition of undisclosed income on account of long-term capital gains. The Tribunal found the share transactions to be genuine based on evidence presented, overturning the suspicions of the assessing officer. Consequently, the Tribunal partly allowed the appeal, ruling in favor of the assessee due to the lack of concrete evidence supporting the addition of undisclosed income. en-us Wed, 08 May 2013 00:00:00 +0530 Sat, 16 Jun 2018 16:05:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273324 The Tribunal allowed the appeal of the assessee concerning the denial of exemption under section 10(38) of the Income Tax Act and the addition of undisclosed income on account of long-term capital gains. The Tribunal found the share transactions to be genuine based on evidence presented, overturning the suspicions of the assessing officer. Consequently, the Tribunal partly allowed the appeal, ruling in favor of the assessee due to the lack of concrete evidence supporting the addition of undisclosed income. Case-Laws Income Tax Wed, 08 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273324