https://www.taxtmi.com/caselaws?id=371201 The Tribunal ruled in favor of the assessees, concluding that the Assessing Officer failed to provide specific evidence to support the treatment of Long Term Capital Gains (LTCG) and Long Term Capital Loss (LTCL) as bogus unexplained cash credits under Section 68 of the Income Tax Act. The Tribunal emphasized the lack of concrete evidence and reliance on general observations and the investigation wing's report. As a result, the Tribunal deleted the additions made by the AO and allowed the appeals in favor of the assessees. en-us Wed, 14 Nov 2018 00:00:00 +0530 Fri, 30 Nov 2018 07:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371201 The Tribunal ruled in favor of the assessees, concluding that the Assessing Officer failed to provide specific evidence to support the treatment of Long Term Capital Gains (LTCG) and Long Term Capital Loss (LTCL) as bogus unexplained cash credits under Section 68 of the Income Tax Act. The Tribunal emphasized the lack of concrete evidence and reliance on general observations and the investigation wing's report. As a result, the Tribunal deleted the additions made by the AO and allowed the appeals in favor of the assessees. Case-Laws Income Tax Wed, 14 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371201