https://www.taxtmi.com/caselaws?id=384870 The Tribunal ruled in favor of the appellant, directing the AO to allow the claimed loss on the sale of Comfort Fincap Ltd. shares. The Tribunal found the AO's disallowance unjustified, noting the appellant's submission of evidence, legitimate transactions on the Bombay Stock Exchange, and payment of STT. The Tribunal emphasized the lack of specific evidence against the appellant and referenced similar judgments where losses in Comfort Fincap Ltd. were allowed, ultimately overturning the CIT(A)'s decision based on suspicion and preponderance of probability. en-us Wed, 21 Aug 2019 00:00:00 +0530 Fri, 23 Aug 2019 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384870 The Tribunal ruled in favor of the appellant, directing the AO to allow the claimed loss on the sale of Comfort Fincap Ltd. shares. The Tribunal found the AO's disallowance unjustified, noting the appellant's submission of evidence, legitimate transactions on the Bombay Stock Exchange, and payment of STT. The Tribunal emphasized the lack of specific evidence against the appellant and referenced similar judgments where losses in Comfort Fincap Ltd. were allowed, ultimately overturning the CIT(A)'s decision based on suspicion and preponderance of probability. Case-Laws Income Tax Wed, 21 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384870