https://www.taxtmi.com/caselaws?id=301509 The Tribunal allowed the appeal of the assessee, ruling that the disallowance of the loss on the sale of shares was unjustified as the transactions were genuine and necessitated by business exigencies. The Tribunal criticized the Assessing Officer for lacking thorough inquiry and relying on probabilities rather than concrete evidence. The issue of non-admission of additional evidence was not addressed as the primary issue appeal was allowed, rendering it unnecessary to consider. en-us Thu, 18 Aug 2011 00:00:00 +0530 Thu, 07 Apr 2022 10:59:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301509 The Tribunal allowed the appeal of the assessee, ruling that the disallowance of the loss on the sale of shares was unjustified as the transactions were genuine and necessitated by business exigencies. The Tribunal criticized the Assessing Officer for lacking thorough inquiry and relying on probabilities rather than concrete evidence. The issue of non-admission of additional evidence was not addressed as the primary issue appeal was allowed, rendering it unnecessary to consider. Case-Laws Income Tax Thu, 18 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301509