https://www.taxtmi.com/caselaws?id=414961 The Tribunal allowed the appeals filed by the assessee and deleted the addition of Rs. 77,57,559/- in respect of long-term capital gain. The Tribunal found that the revenue failed to disprove the genuineness of the transactions with substantial evidence and that the additions made by the Assessing Officer were unsustainable due to reliance on third-party statements without providing the assessee an opportunity for cross-examination. The Tribunal emphasized the importance of adhering to the principles of natural justice and requiring substantial evidence for tax assessments. en-us Wed, 22 Sep 2021 00:00:00 +0530 Mon, 22 Nov 2021 06:08:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414961 The Tribunal allowed the appeals filed by the assessee and deleted the addition of Rs. 77,57,559/- in respect of long-term capital gain. The Tribunal found that the revenue failed to disprove the genuineness of the transactions with substantial evidence and that the additions made by the Assessing Officer were unsustainable due to reliance on third-party statements without providing the assessee an opportunity for cross-examination. The Tribunal emphasized the importance of adhering to the principles of natural justice and requiring substantial evidence for tax assessments. Case-Laws Income Tax Wed, 22 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414961