https://www.taxtmi.com/caselaws?id=405841 The Tribunal allowed the assessee's appeal, directing the AO to accept the LTCG of Rs. 5,76,90,819/- as genuine and exempt under Section 10(38) of the Income Tax Act. The Tribunal also directed the deletion of the addition of Rs. 17,98,225/- made under Section 69C. The Tribunal emphasized the need for independent inquiries and evidence-based conclusions, rather than reliance on interim orders or investigation reports without further verification. The decision was based on the final SEBI order clearing the assessee of adverse findings and the lack of material evidence supporting the AO's conclusions. en-us Fri, 26 Mar 2021 00:00:00 +0530 Tue, 30 Mar 2021 09:10:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405841 The Tribunal allowed the assessee's appeal, directing the AO to accept the LTCG of Rs. 5,76,90,819/- as genuine and exempt under Section 10(38) of the Income Tax Act. The Tribunal also directed the deletion of the addition of Rs. 17,98,225/- made under Section 69C. The Tribunal emphasized the need for independent inquiries and evidence-based conclusions, rather than reliance on interim orders or investigation reports without further verification. The decision was based on the final SEBI order clearing the assessee of adverse findings and the lack of material evidence supporting the AO's conclusions. Case-Laws Income Tax Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405841