ITCG cannot be held bogus merely on human probabilities or surmises

Mahavir Jhanwar Vs ITO (ITAT Kolkata)

The sole issue that arises for my adjudication is whether the Assessing Officer was right in rejecting the claim of the assessee that he had earned Long Term Capital Gains on purchase and sale of the shares of M/s Unno Industries. The AO based on a general report and modus operandi adopted generally and on general observations has conc

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