https://www.taxtmi.com/caselaws?id=305519 The Tribunal allowed the assessee's appeal regarding the rejection of the claim of Long Term Capital Gains on shares purchase and sale. The Assessing Officer's decision to add the entire sale proceeds as income was overturned due to lack of specific evidence against the assessee, with the Tribunal emphasizing the need for decisions to be evidence-based. Citing previous case laws and the absence of material challenging transaction genuineness, the Tribunal ruled in favor of the assessee, deleting the addition and allowing the appeal on 05.10.2018. en-us Fri, 05 Oct 2018 00:00:00 +0530 Fri, 09 Dec 2022 10:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305519 The Tribunal allowed the assessee's appeal regarding the rejection of the claim of Long Term Capital Gains on shares purchase and sale. The Assessing Officer's decision to add the entire sale proceeds as income was overturned due to lack of specific evidence against the assessee, with the Tribunal emphasizing the need for decisions to be evidence-based. Citing previous case laws and the absence of material challenging transaction genuineness, the Tribunal ruled in favor of the assessee, deleting the addition and allowing the appeal on 05.10.2018. Case-Laws Income Tax Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305519