https://www.taxtmi.com/caselaws?id=293006 The ITAT Kolkata ruled in favor of the assessee, deleting the addition and allowing the appeal regarding the rejection of the claim of Long Term Capital Gains on shares by the Assessing Officer. The decision was based on the lack of substantial evidence against the genuineness of the transaction and legal precedents supporting the assessee's position. The ITAT emphasized the importance of evidence-based decisions and overturned the addition based on general observations and suspicions, ultimately ruling in favor of the assessee on November 16, 2018. en-us Fri, 16 Nov 2018 00:00:00 +0530 Mon, 18 Jan 2021 21:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293006 The ITAT Kolkata ruled in favor of the assessee, deleting the addition and allowing the appeal regarding the rejection of the claim of Long Term Capital Gains on shares by the Assessing Officer. The decision was based on the lack of substantial evidence against the genuineness of the transaction and legal precedents supporting the assessee's position. The ITAT emphasized the importance of evidence-based decisions and overturned the addition based on general observations and suspicions, ultimately ruling in favor of the assessee on November 16, 2018. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293006