https://www.taxtmi.com/caselaws?id=414199 The Tribunal overturned the CIT (A)'s decision and upheld the AO's assessment, ruling that the claimed LTCG exemption was a colorable device to convert unaccounted money. The Tribunal found the transaction dubious, emphasizing the lack of credible financials of the company involved. The appeal filed by the Revenue was allowed, setting aside the CIT (A)'s order. en-us Wed, 27 Oct 2021 00:00:00 +0530 Sat, 30 Oct 2021 15:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414199 The Tribunal overturned the CIT (A)'s decision and upheld the AO's assessment, ruling that the claimed LTCG exemption was a colorable device to convert unaccounted money. The Tribunal found the transaction dubious, emphasizing the lack of credible financials of the company involved. The appeal filed by the Revenue was allowed, setting aside the CIT (A)'s order. Case-Laws Income Tax Wed, 27 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414199