https://www.taxtmi.com/caselaws?id=282627 The ITAT ruled in favor of the assessee, deleting the addition made under section 68 of the Income Tax Act for Long Term Capital Gains. The decision emphasized the importance of evidence-based decision-making and the need for specific material to support conclusions rather than generalizations or suspicions. The judgment highlighted that the evidence provided by the assessee was deemed sufficient to establish the genuineness of the transactions, in line with precedents set by the Jurisdictional High Court and the ITAT Kolkata. en-us Fri, 01 Feb 2019 00:00:00 +0530 Fri, 16 Aug 2019 06:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282627 The ITAT ruled in favor of the assessee, deleting the addition made under section 68 of the Income Tax Act for Long Term Capital Gains. The decision emphasized the importance of evidence-based decision-making and the need for specific material to support conclusions rather than generalizations or suspicions. The judgment highlighted that the evidence provided by the assessee was deemed sufficient to establish the genuineness of the transactions, in line with precedents set by the Jurisdictional High Court and the ITAT Kolkata. Case-Laws Income Tax Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282627