https://www.taxtmi.com/caselaws?id=401382 The Tribunal found that the assessee successfully proved the genuineness of long-term capital gains from shares of a company, rejecting the AO's additions under Section 68 of the Income Tax Act. The Tribunal highlighted the lack of concrete evidence and reliance on presumptions by the AO, directing the acceptance of the capital gains as legitimate. Consequently, the addition of a 2% commission on the alleged bogus gains was also dismissed. The appeal was allowed in favor of the assessee, with the order issued on 04.12.2020. en-us Fri, 04 Dec 2020 00:00:00 +0530 Thu, 25 Jun 2026 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401382 The Tribunal found that the assessee successfully proved the genuineness of long-term capital gains from shares of a company, rejecting the AO's additions under Section 68 of the Income Tax Act. The Tribunal highlighted the lack of concrete evidence and reliance on presumptions by the AO, directing the acceptance of the capital gains as legitimate. Consequently, the addition of a 2% commission on the alleged bogus gains was also dismissed. The appeal was allowed in favor of the assessee, with the order issued on 04.12.2020. Case-Laws Income Tax Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401382