https://www.taxtmi.com/caselaws?id=295933 The Revenue's appeal against the order of the ld.CIT(A)-II Surat, directing acceptance of a capital gain claim under section 68 of the Income Tax Act, was dismissed. The Assessing Officer treated the sum as an unexplained credit, but the CIT(A) accepted the assessee's explanation supported by evidence of genuine transactions through the online trading system. The decision was influenced by similar cases where the authenticity of transactions was proven with documentation. The ITAT supported the CIT(A)'s findings, emphasizing consistency in treatment of capital gains, leading to the dismissal of the Revenue's appeal. en-us Thu, 31 May 2012 00:00:00 +0530 Fri, 25 Jun 2021 17:27:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295933 The Revenue's appeal against the order of the ld.CIT(A)-II Surat, directing acceptance of a capital gain claim under section 68 of the Income Tax Act, was dismissed. The Assessing Officer treated the sum as an unexplained credit, but the CIT(A) accepted the assessee's explanation supported by evidence of genuine transactions through the online trading system. The decision was influenced by similar cases where the authenticity of transactions was proven with documentation. The ITAT supported the CIT(A)'s findings, emphasizing consistency in treatment of capital gains, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 31 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295933