https://www.taxtmi.com/caselaws?id=312440 The Tribunal ruled in favor of the assessee, overturning the Assessing Officer's decision to reject the claim of Long Term Capital Gains on shares of M/s SRK Industries Ltd for the Assessment Year 2014-15. The Tribunal found the addition under section 69C to be unsupported by concrete evidence, relying instead on generalizations and suspicion. The Commissioner (Appeals) had upheld the addition based on circumstantial evidence, but the Tribunal emphasized the necessity of decisions based on direct evidence. Consequently, the Tribunal deleted the addition and allowed the assessee's appeal, with the order pronounced on 05.10.2018. en-us Fri, 05 Oct 2018 00:00:00 +0530 Sat, 17 Feb 2024 20:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312440 The Tribunal ruled in favor of the assessee, overturning the Assessing Officer's decision to reject the claim of Long Term Capital Gains on shares of M/s SRK Industries Ltd for the Assessment Year 2014-15. The Tribunal found the addition under section 69C to be unsupported by concrete evidence, relying instead on generalizations and suspicion. The Commissioner (Appeals) had upheld the addition based on circumstantial evidence, but the Tribunal emphasized the necessity of decisions based on direct evidence. Consequently, the Tribunal deleted the addition and allowed the assessee's appeal, with the order pronounced on 05.10.2018. Case-Laws Income Tax Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312440