https://www.taxtmi.com/caselaws?id=374294 The appeal was allowed in favor of the assessee, setting aside the orders disallowing the exemption claimed under section 10(38) of the Income Tax Act for capital gains from the sale of shares. The Tribunal emphasized the legitimacy of the transactions conducted through recognized stock exchanges and payments via bank, highlighting that mere suspicion from an investigation report is insufficient to disregard the transactions. The documents provided by the assessee demonstrated the authenticity of the on-market transactions, bonus shares issuance, and legitimate sale process through a stock exchange and bank, leading to the deletion of the addition. en-us Thu, 24 Jan 2019 00:00:00 +0530 Wed, 30 Jan 2019 08:19:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374294 The appeal was allowed in favor of the assessee, setting aside the orders disallowing the exemption claimed under section 10(38) of the Income Tax Act for capital gains from the sale of shares. The Tribunal emphasized the legitimacy of the transactions conducted through recognized stock exchanges and payments via bank, highlighting that mere suspicion from an investigation report is insufficient to disregard the transactions. The documents provided by the assessee demonstrated the authenticity of the on-market transactions, bonus shares issuance, and legitimate sale process through a stock exchange and bank, leading to the deletion of the addition. Case-Laws Income Tax Thu, 24 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374294