https://www.taxtmi.com/caselaws?id=278233 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO, ruling in favor of the assessee. It emphasized the importance of documentary evidence and found that the AO's conclusions were based on general patterns without specific evidence against the assessee. The Tribunal highlighted the lack of material evidence to prove the transactions were dubious and cited judicial precedents supporting genuine transactions backed by documentation. The appeal by the Revenue was dismissed, affirming the genuineness of the Long Term Capital Gain and rejecting the assertion of income from undisclosed sources. en-us Mon, 15 Jan 2018 00:00:00 +0530 Sat, 19 Jan 2019 07:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278233 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO, ruling in favor of the assessee. It emphasized the importance of documentary evidence and found that the AO's conclusions were based on general patterns without specific evidence against the assessee. The Tribunal highlighted the lack of material evidence to prove the transactions were dubious and cited judicial precedents supporting genuine transactions backed by documentation. The appeal by the Revenue was dismissed, affirming the genuineness of the Long Term Capital Gain and rejecting the assertion of income from undisclosed sources. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278233