https://www.taxtmi.com/caselaws?id=367725 The Tribunal allowed the appeal partly, setting aside the lower authorities' decision to deny exemption of long term capital gains under section 10(38) of the Income Tax Act. The Tribunal emphasized the importance of natural justice and proper examination of evidence, directing a re-evaluation of the transactions by the Assessing Officer. The case was remitted back for fresh consideration, highlighting the necessity for assessments to be based on facts rather than mere suspicion. The appeal outcome stressed adherence to legal procedures, including providing opportunities for cross-examination and presenting evidence. en-us Mon, 17 Sep 2018 00:00:00 +0530 Tue, 25 Sep 2018 08:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367725 The Tribunal allowed the appeal partly, setting aside the lower authorities' decision to deny exemption of long term capital gains under section 10(38) of the Income Tax Act. The Tribunal emphasized the importance of natural justice and proper examination of evidence, directing a re-evaluation of the transactions by the Assessing Officer. The case was remitted back for fresh consideration, highlighting the necessity for assessments to be based on facts rather than mere suspicion. The appeal outcome stressed adherence to legal procedures, including providing opportunities for cross-examination and presenting evidence. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367725