https://www.taxtmi.com/caselaws?id=370462 The Tribunal allowed the assessee's appeal, overturning the Assessing Officer and CIT(A)'s decisions to reject the claim of Long Term Capital Gains on shares. Emphasizing the necessity of concrete evidence over general observations, the Tribunal deleted the addition based on unchallenged evidence and lack of adverse orders from SEBI. Citing relevant legal precedents and the failure of the Departmental Representative to counter them, the Tribunal ruled in favor of the assessee, highlighting the importance of substantiated decisions in such tax matters. en-us Fri, 05 Oct 2018 00:00:00 +0530 Sun, 18 Nov 2018 07:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370462 The Tribunal allowed the assessee's appeal, overturning the Assessing Officer and CIT(A)'s decisions to reject the claim of Long Term Capital Gains on shares. Emphasizing the necessity of concrete evidence over general observations, the Tribunal deleted the addition based on unchallenged evidence and lack of adverse orders from SEBI. Citing relevant legal precedents and the failure of the Departmental Representative to counter them, the Tribunal ruled in favor of the assessee, highlighting the importance of substantiated decisions in such tax matters. Case-Laws Income Tax Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370462