https://www.taxtmi.com/caselaws?id=406142 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO regarding disallowing LTCG exemption claimed under section 10(38) of the Income Tax Act. The CIT(A) found the transactions genuine based on documentary evidence provided by the assessee, concluding that the AO's findings were mere suspicion without concrete evidence. In a separate case, a similar outcome was reached where the CIT(A) deleted additions made by the AO, emphasizing the genuineness of the transactions supported by substantial evidence. The Tribunal dismissed the Department's appeals in both cases. en-us Tue, 06 Apr 2021 00:00:00 +0530 Wed, 07 Apr 2021 09:18:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406142 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO regarding disallowing LTCG exemption claimed under section 10(38) of the Income Tax Act. The CIT(A) found the transactions genuine based on documentary evidence provided by the assessee, concluding that the AO's findings were mere suspicion without concrete evidence. In a separate case, a similar outcome was reached where the CIT(A) deleted additions made by the AO, emphasizing the genuineness of the transactions supported by substantial evidence. The Tribunal dismissed the Department's appeals in both cases. Case-Laws Income Tax Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406142