https://www.taxtmi.com/caselaws?id=293148 The Tribunal partially allowed the assessee's appeal, remitting the exemption claim under section 10(38) back to the Assessing Officer for re-adjudication. The Tribunal emphasized the necessity of concrete evidence to support the claim, highlighting discrepancies in the case and directing a detailed examination of the transactions. The Assessing Officer was instructed to conduct a thorough investigation, consider all aspects, and provide a fair opportunity for the assessee to present evidence before making a final decision in accordance with the law. en-us Wed, 04 Mar 2020 00:00:00 +0530 Tue, 26 Jan 2021 16:08:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293148 The Tribunal partially allowed the assessee's appeal, remitting the exemption claim under section 10(38) back to the Assessing Officer for re-adjudication. The Tribunal emphasized the necessity of concrete evidence to support the claim, highlighting discrepancies in the case and directing a detailed examination of the transactions. The Assessing Officer was instructed to conduct a thorough investigation, consider all aspects, and provide a fair opportunity for the assessee to present evidence before making a final decision in accordance with the law. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293148