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2018 (10) TMI 726 - AT - Income TaxRejection of Long Term Capital Gains on purchase and sale of the shares - claim of exemption made u/s 10(38) rejected - AO concluded that the assessee has claimed bogus long term capital gain - Held that:- In a number of cases this bench of the Tribunal has consistently held that decision in all such cases should be based on evidence and not on generalisation, human probabilities, suspicion, conjectures and surmises. We have in all cases deleted such additions. There is no surviving order of SEBI against the assessee or the company, the script of which was purchased and sold by the assessee. Addition to be deleted - Decided in favour of assessee.
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