https://www.taxtmi.com/caselaws?id=278247 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition of Rs. 11,37,480/- as unexplained income from Long Term Capital Gain on the sale of shares. The Tribunal emphasized the need for conclusive proof of transactions being bogus, which the Revenue failed to provide. The Tribunal found the CIT(A)'s decision in line with precedent cases and ruled in favor of the assessee, directing the acceptance of Short Term Capital Gains as declared and allowing the set-off of brought forward losses after verification. en-us Fri, 29 Oct 2010 00:00:00 +0530 Sat, 19 Jan 2019 15:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278247 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition of Rs. 11,37,480/- as unexplained income from Long Term Capital Gain on the sale of shares. The Tribunal emphasized the need for conclusive proof of transactions being bogus, which the Revenue failed to provide. The Tribunal found the CIT(A)'s decision in line with precedent cases and ruled in favor of the assessee, directing the acceptance of Short Term Capital Gains as declared and allowing the set-off of brought forward losses after verification. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278247