https://www.taxtmi.com/caselaws?id=305013 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition made under Section 68 of the Income Tax Act and grant exemption under Section 10(38) by treating the gains as long-term capital gains. The Tribunal found the AO's findings lacked concrete evidence and were based on suspicion, emphasizing that the decision was specific to the case and not binding precedent. The assessee's appeal was successful, with the Tribunal ruling in favor of treating the income from share sales as long-term capital gains. en-us Wed, 28 Feb 2018 00:00:00 +0530 Fri, 11 Nov 2022 08:59:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305013 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition made under Section 68 of the Income Tax Act and grant exemption under Section 10(38) by treating the gains as long-term capital gains. The Tribunal found the AO's findings lacked concrete evidence and were based on suspicion, emphasizing that the decision was specific to the case and not binding precedent. The assessee's appeal was successful, with the Tribunal ruling in favor of treating the income from share sales as long-term capital gains. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305013