https://www.taxtmi.com/caselaws?id=278252 The Tribunal ruled in favor of the assessees, holding that the Long Term Capital Gains (LTCG) claimed were genuine. The Tribunal found that the assessees' direct evidence, including contract notes and account payee cheques, outweighed the circumstantial evidence and statements from a third party relied upon by the Assessing Officer. The additions made by the AO under Section 68, treating the LTCG as bogus, were deemed unsustainable. Consequently, the appeals were allowed, and the additions were deleted on October 9, 2015. en-us Fri, 09 Oct 2015 00:00:00 +0530 Mon, 21 Jan 2019 06:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278252 The Tribunal ruled in favor of the assessees, holding that the Long Term Capital Gains (LTCG) claimed were genuine. The Tribunal found that the assessees' direct evidence, including contract notes and account payee cheques, outweighed the circumstantial evidence and statements from a third party relied upon by the Assessing Officer. The additions made by the AO under Section 68, treating the LTCG as bogus, were deemed unsustainable. Consequently, the appeals were allowed, and the additions were deleted on October 9, 2015. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278252