https://www.taxtmi.com/caselaws?id=429551 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s decision. It concluded that the AO had no authority to substitute the purchase price of shares with a different value and that the assessee's investment and subsequent loss were genuine. The Tribunal emphasized that the AO's recalculation lacked a legal basis and supporting evidence, affirming the assessee's right to claim the LTCL. The appeal was dismissed, and the order pronounced on 26/10/2022. en-us Wed, 26 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429551 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s decision. It concluded that the AO had no authority to substitute the purchase price of shares with a different value and that the assessee's investment and subsequent loss were genuine. The Tribunal emphasized that the AO's recalculation lacked a legal basis and supporting evidence, affirming the assessee's right to claim the LTCL. The appeal was dismissed, and the order pronounced on 26/10/2022. Case-Laws Income Tax Wed, 26 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429551