https://www.taxtmi.com/caselaws?id=409205 The Tribunal allowed the appeal of the assessee regarding the addition of short term capital loss on trading shares of UNNO Industries Ltd. The Tribunal found the transactions genuine based on evidence provided by the appellant, including documents supporting the trades. It emphasized the importance of concrete evidence and ruled in favor of the appellant, deleting the addition made by the Revenue. The Tribunal highlighted the lack of specific evidence against the appellant and the reliance on general reports and suspicions by the Revenue, ultimately deeming the disallowance of the capital loss unsustainable in law. en-us Mon, 28 Jun 2021 00:00:00 +0530 Fri, 02 Jul 2021 08:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409205 The Tribunal allowed the appeal of the assessee regarding the addition of short term capital loss on trading shares of UNNO Industries Ltd. The Tribunal found the transactions genuine based on evidence provided by the appellant, including documents supporting the trades. It emphasized the importance of concrete evidence and ruled in favor of the appellant, deleting the addition made by the Revenue. The Tribunal highlighted the lack of specific evidence against the appellant and the reliance on general reports and suspicions by the Revenue, ultimately deeming the disallowance of the capital loss unsustainable in law. Case-Laws Income Tax Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409205