https://www.taxtmi.com/caselaws?id=294893 The Tribunal allowed the appeals of the assessees, directing the Assessing Officer to grant exemption u/s.10(38) of the Act for long term capital gains on share transactions. The Tribunal emphasized the lack of evidence supporting the Assessing Officer's claim that the transactions were bogus, highlighting that they were conducted online with STT paid and the assessees had no connection to the scrutinized companies. The decision underscored the Assessing Officer's reliance on presumptions rather than concrete evidence, leading to the allowance of all appeals. en-us Tue, 18 Dec 2018 00:00:00 +0530 Sat, 08 May 2021 08:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294893 The Tribunal allowed the appeals of the assessees, directing the Assessing Officer to grant exemption u/s.10(38) of the Act for long term capital gains on share transactions. The Tribunal emphasized the lack of evidence supporting the Assessing Officer's claim that the transactions were bogus, highlighting that they were conducted online with STT paid and the assessees had no connection to the scrutinized companies. The decision underscored the Assessing Officer's reliance on presumptions rather than concrete evidence, leading to the allowance of all appeals. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294893