https://www.taxtmi.com/caselaws?id=369918 The Tribunal allowed the appeal of the assessee, holding that the Assessing Officer erred in rejecting the claim of Long Term Capital Gain (LTCG) exemption. The Tribunal found the assessee provided substantial evidence supporting the genuineness of the transactions, leading to the deletion of the entire sale consideration added as income and the estimated commission expenses. The Tribunal emphasized the importance of concrete evidence over suspicion and presumption in tax assessments. en-us Fri, 02 Nov 2018 00:00:00 +0530 Mon, 05 Nov 2018 13:30:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369918 The Tribunal allowed the appeal of the assessee, holding that the Assessing Officer erred in rejecting the claim of Long Term Capital Gain (LTCG) exemption. The Tribunal found the assessee provided substantial evidence supporting the genuineness of the transactions, leading to the deletion of the entire sale consideration added as income and the estimated commission expenses. The Tribunal emphasized the importance of concrete evidence over suspicion and presumption in tax assessments. Case-Laws Income Tax Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369918