https://www.taxtmi.com/caselaws?id=307555 The Tribunal allowed all seventeen appeals, deleting the addition of Long Term Capital Gains (LTCG) as unexplained cash credits under Section 68 of the Income Tax Act. The Tribunal found the transactions genuine, supported by substantial documentary evidence provided by the assessees. It emphasized the need for concrete evidence over circumstantial evidence, referencing judicial precedents and a CBDT circular. The decision highlighted the importance of evidence-based conclusions and rejected the Revenue's reliance on suspicions and general reports. en-us Fri, 28 Jun 2019 00:00:00 +0530 Fri, 21 Apr 2023 21:57:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307555 The Tribunal allowed all seventeen appeals, deleting the addition of Long Term Capital Gains (LTCG) as unexplained cash credits under Section 68 of the Income Tax Act. The Tribunal found the transactions genuine, supported by substantial documentary evidence provided by the assessees. It emphasized the need for concrete evidence over circumstantial evidence, referencing judicial precedents and a CBDT circular. The decision highlighted the importance of evidence-based conclusions and rejected the Revenue's reliance on suspicions and general reports. Case-Laws Income Tax Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307555