https://www.taxtmi.com/caselaws?id=278313 The High Court upheld the Income Tax Appellate Tribunal's decision in an appeal under section 260-A of the Income-tax Act, 1961. The Tribunal found the long term capital gains from the sale of shares to be genuine and valid, with the Revenue failing to provide evidence to the contrary. The addition of Rs. 26,18,500/- in the assessment was deleted as the assessee did not introduce undisclosed income, and the Tribunal concluded that the transaction was legitimate. The Court dismissed the appeal, affirming the Tribunal's decision. en-us Thu, 29 Nov 2012 00:00:00 +0530 Thu, 24 Jan 2019 11:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278313 The High Court upheld the Income Tax Appellate Tribunal's decision in an appeal under section 260-A of the Income-tax Act, 1961. The Tribunal found the long term capital gains from the sale of shares to be genuine and valid, with the Revenue failing to provide evidence to the contrary. The addition of Rs. 26,18,500/- in the assessment was deleted as the assessee did not introduce undisclosed income, and the Tribunal concluded that the transaction was legitimate. The Court dismissed the appeal, affirming the Tribunal's decision. Case-Laws Income Tax Thu, 29 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278313