https://www.taxtmi.com/caselaws?id=441662 The Tribunal allowed the revenue's appeal in a case concerning the deletion of undisclosed long term capital gain by the Ld CIT(A). The Tribunal found that the Ld CIT(A) erred in granting relief to the assessee without sufficient basis and ignoring crucial evidence of cash payments in the transaction. Therefore, the Tribunal set aside the Ld CIT(A)'s order and reinstated the assessment order passed by the AO, emphasizing the importance of considering all evidence, including seized documents, in computing long term capital gains. en-us Thu, 10 Aug 2023 00:00:00 +0530 Sat, 12 Aug 2023 08:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441662 The Tribunal allowed the revenue's appeal in a case concerning the deletion of undisclosed long term capital gain by the Ld CIT(A). The Tribunal found that the Ld CIT(A) erred in granting relief to the assessee without sufficient basis and ignoring crucial evidence of cash payments in the transaction. Therefore, the Tribunal set aside the Ld CIT(A)'s order and reinstated the assessment order passed by the AO, emphasizing the importance of considering all evidence, including seized documents, in computing long term capital gains. Case-Laws Income Tax Thu, 10 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441662