https://www.taxtmi.com/caselaws?id=397462 The Tribunal found in favor of the assessee, ruling that the additions to the income based on treating Long Term Capital Gain as a manipulated transaction were unjustified. The Assessing Officer's reliance on third-party statements without concrete evidence linking the assessee to the alleged manipulation was deemed insufficient. The Tribunal also held that the principle of natural justice was violated as the assessee was not given the opportunity for cross-examination. Consequently, the additions on account of LTCG and estimated commission were deleted, and the appeals were partly allowed. en-us Tue, 11 Aug 2020 00:00:00 +0530 Wed, 19 Aug 2020 12:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397462 The Tribunal found in favor of the assessee, ruling that the additions to the income based on treating Long Term Capital Gain as a manipulated transaction were unjustified. The Assessing Officer's reliance on third-party statements without concrete evidence linking the assessee to the alleged manipulation was deemed insufficient. The Tribunal also held that the principle of natural justice was violated as the assessee was not given the opportunity for cross-examination. Consequently, the additions on account of LTCG and estimated commission were deleted, and the appeals were partly allowed. Case-Laws Income Tax Tue, 11 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397462