https://www.taxtmi.com/caselaws?id=387491 The Tribunal allowed the appeals of the assessee, directing the AO to allow the claim of LTCG on the sale of shares of KAFL and delete the consequential addition. The Tribunal found that the assessee had provided sufficient evidence to substantiate the genuineness of the transactions and that the AO's assessment was based on suspicion and conjectures without any material evidence. Various judicial pronouncements relied upon by the Revenue were distinguished as not applicable to the facts of the case. en-us Wed, 07 Aug 2019 00:00:00 +0530 Thu, 24 Oct 2019 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387491 The Tribunal allowed the appeals of the assessee, directing the AO to allow the claim of LTCG on the sale of shares of KAFL and delete the consequential addition. The Tribunal found that the assessee had provided sufficient evidence to substantiate the genuineness of the transactions and that the AO's assessment was based on suspicion and conjectures without any material evidence. Various judicial pronouncements relied upon by the Revenue were distinguished as not applicable to the facts of the case. Case-Laws Income Tax Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387491