https://www.taxtmi.com/caselaws?id=365037 The Tribunal allowed the appeal, recognizing the Long Term Capital Gains (LTCG) claimed by the assessee as legitimate and exempt from income tax. The Tribunal criticized the revenue authorities for relying on general observations and the preponderance of probabilities rather than concrete evidence, emphasizing the importance of specific evidence and individual assessment in such cases. The judgment highlighted the significance of natural justice principles, including the right to cross-examine witnesses, and concluded that the evidence provided by the assessee was not adequately countered by the authorities. en-us Fri, 20 Jul 2018 00:00:00 +0530 Thu, 09 Aug 2018 13:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365037 The Tribunal allowed the appeal, recognizing the Long Term Capital Gains (LTCG) claimed by the assessee as legitimate and exempt from income tax. The Tribunal criticized the revenue authorities for relying on general observations and the preponderance of probabilities rather than concrete evidence, emphasizing the importance of specific evidence and individual assessment in such cases. The judgment highlighted the significance of natural justice principles, including the right to cross-examine witnesses, and concluded that the evidence provided by the assessee was not adequately countered by the authorities. Case-Laws Income Tax Fri, 20 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365037