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2016 (5) TMI 618 - AT - Income TaxSale of shares - TLCG OR STCG - Held that:- Taking into consideration the documentary evidence which establishes that the assessee was in possession of shares since 1994-95 and the same were being sold in 2005-06 therefore the income from the sale of shares is clearly a Long Term Capital Gain which is exempt from Tax u/s 10(38). Accordingly we are of the view that the AO has failed both in law and on facts in disallowing the claim of Long Term Capital Gain - Decided in favour of assessee
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