https://www.taxtmi.com/caselaws?id=381768 The Tribunal held that the sum received on retirement from the partnership firm is not taxable as capital gains. The addition of Rs. 43,49,47,500/- was directed to be deleted. Regarding the disallowed loss on the purchase and sale of shares, the Tribunal remanded the issue back to the AO for the assessee to substantiate the genuineness of the loss with evidence. The CIT(A) was found to have jurisdiction to issue an enhancement notice but the matter was sent back to the AO for fresh consideration. The appeals were partly allowed for statistical purposes. en-us Tue, 11 Jun 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:49:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381768 The Tribunal held that the sum received on retirement from the partnership firm is not taxable as capital gains. The addition of Rs. 43,49,47,500/- was directed to be deleted. Regarding the disallowed loss on the purchase and sale of shares, the Tribunal remanded the issue back to the AO for the assessee to substantiate the genuineness of the loss with evidence. The CIT(A) was found to have jurisdiction to issue an enhancement notice but the matter was sent back to the AO for fresh consideration. The appeals were partly allowed for statistical purposes. Case-Laws Income Tax Tue, 11 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381768