https://www.taxtmi.com/caselaws?id=750838 The ITAT Ranchi allowed the assessee's appeal regarding Long Term Capital Gain (LTCG) on share sales. The Revenue had denied exemption under section 10(38) and added presumptive commission at 3% treating it as unexplained expenditure, alleging bogus transactions. The Tribunal relied on Arun Kumar Agarwal (HUF) precedent from Jharkhand HC, noting that while share purchases were undisputed, only sales were questioned as accommodation entries. The Tribunal set aside lower authorities' orders, deleted the LTCG addition, and allowed the assessee's grounds, treating the capital gains as genuine. en-us Thu, 29 Feb 2024 00:00:00 +0530 Mon, 01 Apr 2024 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750838 The ITAT Ranchi allowed the assessee's appeal regarding Long Term Capital Gain (LTCG) on share sales. The Revenue had denied exemption under section 10(38) and added presumptive commission at 3% treating it as unexplained expenditure, alleging bogus transactions. The Tribunal relied on Arun Kumar Agarwal (HUF) precedent from Jharkhand HC, noting that while share purchases were undisputed, only sales were questioned as accommodation entries. The Tribunal set aside lower authorities' orders, deleted the LTCG addition, and allowed the assessee's grounds, treating the capital gains as genuine. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750838