https://www.taxtmi.com/caselaws?id=380113 The tribunal ruled in favor of the assessee, directing the AO to delete the addition of alleged bogus unexplained cash credits related to Long Term Capital Gains. The decision emphasized the lack of direct evidence against the assessee and procedural flaws in the assessment process. The tribunal highlighted the importance of relying on concrete evidence rather than mere suspicion, referencing judicial precedents that support genuine transactions backed by valid documentation. The judgment underscored the significance of procedural fairness and the need for substantial proof before dismissing transactions as bogus. en-us Wed, 08 May 2019 00:00:00 +0530 Tue, 14 May 2019 07:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380113 The tribunal ruled in favor of the assessee, directing the AO to delete the addition of alleged bogus unexplained cash credits related to Long Term Capital Gains. The decision emphasized the lack of direct evidence against the assessee and procedural flaws in the assessment process. The tribunal highlighted the importance of relying on concrete evidence rather than mere suspicion, referencing judicial precedents that support genuine transactions backed by valid documentation. The judgment underscored the significance of procedural fairness and the need for substantial proof before dismissing transactions as bogus. Case-Laws Income Tax Wed, 08 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380113