https://www.taxtmi.com/caselaws?id=378433 The Tribunal allowed the appeal of the assessee, directing the AO not to treat the Long Term Capital Gains (LTCG) on the sale of shares as bogus. The Tribunal found that the assessee provided substantial evidence supporting the genuineness of the transactions, including purchase bills, demat statements, and bank records. It emphasized the lack of concrete evidence from the AO to disprove the genuineness of the transactions and criticized the reliance on suspicion and surrounding circumstances. The Tribunal highlighted the importance of adhering to principles of natural justice and relying on concrete evidence rather than speculation. en-us Wed, 10 Apr 2019 00:00:00 +0530 Tue, 16 Apr 2019 15:15:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378433 The Tribunal allowed the appeal of the assessee, directing the AO not to treat the Long Term Capital Gains (LTCG) on the sale of shares as bogus. The Tribunal found that the assessee provided substantial evidence supporting the genuineness of the transactions, including purchase bills, demat statements, and bank records. It emphasized the lack of concrete evidence from the AO to disprove the genuineness of the transactions and criticized the reliance on suspicion and surrounding circumstances. The Tribunal highlighted the importance of adhering to principles of natural justice and relying on concrete evidence rather than speculation. Case-Laws Income Tax Wed, 10 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378433