https://www.taxtmi.com/caselaws?id=387353 The Tribunal overturned the decisions of the AO and CIT(A) regarding the addition made under Section 68 of the Income-tax Act, 1961, for long-term capital gains from the sale of shares. The Tribunal found the transactions genuine based on ample documentary evidence provided by the assessee and cited precedents where similar transactions were deemed legitimate. Consequently, the Tribunal directed the AO to allow the assessee's claim of LTCG and delete the consequential addition, ruling in favor of the assessee. en-us Fri, 23 Aug 2019 00:00:00 +0530 Tue, 22 Oct 2019 10:19:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387353 The Tribunal overturned the decisions of the AO and CIT(A) regarding the addition made under Section 68 of the Income-tax Act, 1961, for long-term capital gains from the sale of shares. The Tribunal found the transactions genuine based on ample documentary evidence provided by the assessee and cited precedents where similar transactions were deemed legitimate. Consequently, the Tribunal directed the AO to allow the assessee's claim of LTCG and delete the consequential addition, ruling in favor of the assessee. Case-Laws Income Tax Fri, 23 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387353