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2018 (11) TMI 1544 - AT - Income TaxBogus Long Term Capital Gains (LTCG) / Long Term Capital Loss (LTCL) - addition u/s 68 - Held that:- No dispute that assessee having derived her LTCG on transfer of shares held in M/s Kailash Auto Finance Ltd. Learned Departmental Representative fails to dispute that very issue stands adjudicated in assessee’s favour in co-ordinate bench’s decision in SANJEEV GOEL (HUF) VERSUS INCOME TAX OFFICER, WARD-45 (3) , KOLKATA [2018 (8) TMI 1747 - ITAT KOLKATA]. As we rely on the evidence produced by the assessee in support of its claim and base our decision on such evidence and not on suspicion or preponderance of probabilities. No material was brought on record by the AO to controvert the evidence furnished by the assessee. Under these circumstances, we accept the evidence filed by the assessee and allow the claim that the income in question is Long Term Capital Gain from sale of shares and hence exempt from income tax - Decided in favour of assessee
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