https://www.taxtmi.com/caselaws?id=375171 The Tribunal ruled in favor of the assessee, holding that the additions of sale consideration/LTCG/exempt income and commission on the sale of shares were unjustified. It found that the transactions were genuine, supported by documentary evidence, and that the AO failed to provide concrete proof of their illegitimacy. The Tribunal emphasized the importance of incriminating material for additions and disregarded pre-search statements lacking cross-examination opportunities. Additionally, it highlighted the need for legally admissible evidence and directed the AO to delete the additions made under Section 68 of the Income Tax Act. en-us Tue, 12 Feb 2019 00:00:00 +0530 Fri, 15 Feb 2019 08:09:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375171 The Tribunal ruled in favor of the assessee, holding that the additions of sale consideration/LTCG/exempt income and commission on the sale of shares were unjustified. It found that the transactions were genuine, supported by documentary evidence, and that the AO failed to provide concrete proof of their illegitimacy. The Tribunal emphasized the importance of incriminating material for additions and disregarded pre-search statements lacking cross-examination opportunities. Additionally, it highlighted the need for legally admissible evidence and directed the AO to delete the additions made under Section 68 of the Income Tax Act. Case-Laws Income Tax Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375171