https://www.taxtmi.com/caselaws?id=418440 The Tribunal allowed the Assessees' appeals, holding that the LTCG claimed as exempt under section 10(38) was genuine and supported by documentary evidence. The additions under section 69C for alleged commission expenses were not substantiated by evidence. Additionally, the additions for non-abated years were deemed unjustified due to the absence of incriminating material found during the search. The Tribunal emphasized the importance of adhering to principles of natural justice, including the right to cross-examination, and requiring concrete evidence to support income tax assessment additions. en-us Wed, 05 Jan 2022 00:00:00 +0530 Thu, 17 Feb 2022 07:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418440 The Tribunal allowed the Assessees' appeals, holding that the LTCG claimed as exempt under section 10(38) was genuine and supported by documentary evidence. The additions under section 69C for alleged commission expenses were not substantiated by evidence. Additionally, the additions for non-abated years were deemed unjustified due to the absence of incriminating material found during the search. The Tribunal emphasized the importance of adhering to principles of natural justice, including the right to cross-examination, and requiring concrete evidence to support income tax assessment additions. Case-Laws Income Tax Wed, 05 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418440