Addition made u/s 68 - Bogus LTCG - unexplained cash credits - ...

Income Tax

May 15, 2024

Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to disallow the LTCG claimed by the assessee, emphasizing that the transactions lacked genuineness despite the documentation provided. The Tribunal concluded that the exemption claimed under Section 10(38) was a façade to conceal the true nature of the transactions, affirming the addition made by the AO.

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Addition made u/s 68 - Bogus LTCG - unexplained cash credits - ...

Income Tax

May 15, 2024

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