https://www.taxtmi.com/caselaws?id=277949 The Tribunal allowed the assessee's appeal, directing the deletion of the addition made by the Assessing Officer regarding the claim of Long Term Capital Gain (LTCG) on the sale of shares. The Tribunal found the transactions were supported by substantial documentary evidence and criticized the reliance on circumstantial evidence without concrete proof. The decision emphasized that statements recorded during surveys lack evidentiary value and cannot be the sole basis for additions, ultimately validating the genuineness of the assessee's LTCG claim. en-us Wed, 19 Sep 2018 00:00:00 +0530 Tue, 01 Jan 2019 06:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277949 The Tribunal allowed the assessee's appeal, directing the deletion of the addition made by the Assessing Officer regarding the claim of Long Term Capital Gain (LTCG) on the sale of shares. The Tribunal found the transactions were supported by substantial documentary evidence and criticized the reliance on circumstantial evidence without concrete proof. The decision emphasized that statements recorded during surveys lack evidentiary value and cannot be the sole basis for additions, ultimately validating the genuineness of the assessee's LTCG claim. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277949