https://www.taxtmi.com/caselaws?id=292533 The Tribunal allowed the appeal, holding that the CIT(A) erred in treating the sale consideration of shares as bogus and denying the exemption under Section 10(38) of the Income Tax Act. The addition under Section 69C for commission was also deleted, as there was no concrete evidence supporting it. The Tribunal emphasized the importance of natural justice principles and the requirement for solid evidence rather than suspicion and conjecture in making tax assessments. en-us Wed, 29 May 2019 00:00:00 +0530 Tue, 29 Dec 2020 21:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292533 The Tribunal allowed the appeal, holding that the CIT(A) erred in treating the sale consideration of shares as bogus and denying the exemption under Section 10(38) of the Income Tax Act. The addition under Section 69C for commission was also deleted, as there was no concrete evidence supporting it. The Tribunal emphasized the importance of natural justice principles and the requirement for solid evidence rather than suspicion and conjecture in making tax assessments. Case-Laws Income Tax Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292533