https://www.taxtmi.com/caselaws?id=278221 The Tribunal reversed the lower authorities' decision, directing the Assessing Officer to treat the sale consideration of shares as 'Income from Long Term Capital Gains' instead of 'Income from other sources'. The Tribunal found the purchase transaction of shares to be genuine, criticizing the lower authorities for not verifying the transactions directly with the company. Consequently, the Tribunal allowed the appeal and directed the Assessing Officer to accept the Long Term Capital Gains as returned by the assessee. en-us Wed, 05 Sep 2012 00:00:00 +0530 Fri, 18 Jan 2019 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278221 The Tribunal reversed the lower authorities' decision, directing the Assessing Officer to treat the sale consideration of shares as 'Income from Long Term Capital Gains' instead of 'Income from other sources'. The Tribunal found the purchase transaction of shares to be genuine, criticizing the lower authorities for not verifying the transactions directly with the company. Consequently, the Tribunal allowed the appeal and directed the Assessing Officer to accept the Long Term Capital Gains as returned by the assessee. Case-Laws Income Tax Wed, 05 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278221