https://www.taxtmi.com/caselaws?id=300806 The Tribunal ruled in favor of the assessees, holding that the Long Term Capital Gains (LTCG) and Long/Short Term Capital Loss (LTCL) were genuine based on the provided documentation. The Tribunal rejected the Revenue's argument that the transactions were pre-arranged and treated as unexplained cash credits under Section 68 of the Income Tax Act. Emphasizing the importance of circumstantial evidence and human probabilities, the Tribunal found the transactions to be legitimate, relying on judicial precedents to support its decision. As a result, the additions/disallowances made by the Assessing Officer and Commissioner of Income-tax (Appeals) were deleted, and the appeals were allowed in favor of the assessees. en-us Wed, 26 Jun 2019 00:00:00 +0530 Sat, 17 Dec 2022 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300806 The Tribunal ruled in favor of the assessees, holding that the Long Term Capital Gains (LTCG) and Long/Short Term Capital Loss (LTCL) were genuine based on the provided documentation. The Tribunal rejected the Revenue's argument that the transactions were pre-arranged and treated as unexplained cash credits under Section 68 of the Income Tax Act. Emphasizing the importance of circumstantial evidence and human probabilities, the Tribunal found the transactions to be legitimate, relying on judicial precedents to support its decision. As a result, the additions/disallowances made by the Assessing Officer and Commissioner of Income-tax (Appeals) were deleted, and the appeals were allowed in favor of the assessees. Case-Laws Income Tax Wed, 26 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300806