https://www.taxtmi.com/caselaws?id=278237 The tribunal found in favor of the assessee, ruling that the Long Term Capital Gains (LTCG) were genuine. The additions made by the Assessing Officer (AO) and CIT(A) under Section 68 of the Income Tax Act were deleted as the tribunal concluded that the transactions were supported by substantial documentary evidence provided by the assessee. The tribunal emphasized the importance of concrete evidence over mere suspicion and highlighted the violation of principles of natural justice by the AO. The appeal was partly allowed, overturning the additions related to the alleged bogus LTCG and disallowance of the 5% commission. en-us Fri, 28 Sep 2018 00:00:00 +0530 Sat, 19 Jan 2019 07:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278237 The tribunal found in favor of the assessee, ruling that the Long Term Capital Gains (LTCG) were genuine. The additions made by the Assessing Officer (AO) and CIT(A) under Section 68 of the Income Tax Act were deleted as the tribunal concluded that the transactions were supported by substantial documentary evidence provided by the assessee. The tribunal emphasized the importance of concrete evidence over mere suspicion and highlighted the violation of principles of natural justice by the AO. The appeal was partly allowed, overturning the additions related to the alleged bogus LTCG and disallowance of the 5% commission. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278237