https://www.taxtmi.com/caselaws?id=445745 ITAT Mumbai allowed the assessee's appeal, remanding the matter to AO with direction to admit additional evidence regarding sale of listed equity shares and LTCG exemption under section 10(38). CIT(A) erred in not admitting additional evidence despite condoning delay due to notices sent to non-functional email IDs. The tribunal found merit in assessee's contentions that evidence supported actual investment and sale transactions. CIT(A)'s reliance on AO's remand report claiming willful non-submission was incorrect, as no reasonable explanation existed for withholding evidence given significant tax demand involved. en-us Tue, 26 Sep 2023 00:00:00 +0530 Sat, 18 Nov 2023 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445745 ITAT Mumbai allowed the assessee's appeal, remanding the matter to AO with direction to admit additional evidence regarding sale of listed equity shares and LTCG exemption under section 10(38). CIT(A) erred in not admitting additional evidence despite condoning delay due to notices sent to non-functional email IDs. The tribunal found merit in assessee's contentions that evidence supported actual investment and sale transactions. CIT(A)'s reliance on AO's remand report claiming willful non-submission was incorrect, as no reasonable explanation existed for withholding evidence given significant tax demand involved. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445745