https://www.taxtmi.com/caselaws?id=369465 The Tribunal ruled in favor of the assessee, a non-resident Indian, in a tax dispute concerning the addition of long-term capital gains (LTCG) on the sale of shares. The Tribunal found the LTCG to be genuine, supported by proper documentation, and overturned the Assessing Officer's decision to treat the gains as unexplained cash credit under Section 68 of the Income Tax Act. The Tribunal emphasized the importance of concrete evidence over presumptions and highlighted the impact of SEBI's final order revoking restraint orders against the assessee, indicating the transactions' legitimacy. en-us Wed, 24 Oct 2018 00:00:00 +0530 Sun, 28 Oct 2018 21:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369465 The Tribunal ruled in favor of the assessee, a non-resident Indian, in a tax dispute concerning the addition of long-term capital gains (LTCG) on the sale of shares. The Tribunal found the LTCG to be genuine, supported by proper documentation, and overturned the Assessing Officer's decision to treat the gains as unexplained cash credit under Section 68 of the Income Tax Act. The Tribunal emphasized the importance of concrete evidence over presumptions and highlighted the impact of SEBI's final order revoking restraint orders against the assessee, indicating the transactions' legitimacy. Case-Laws Income Tax Wed, 24 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369465