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2019 (10) TMI 462 - AT - Income TaxBogus LTCG - Unexplained credit u/s.68 - sham transaction of purchase and sale of bogus shares - HELD THAT:- Since, the right to exemption must be established by those who seek it , the onus therefore lies on the respective assessee . In order to claim the exemption from payment of income tax, the assessee had to put before the Income Tax authorities proper materials which would enable them to come to a conclusion. In these cases, it is seen from the orders of the Ld.CIT(A), supra, that the respective assessee has not placed relevant material and proved the genuineness of the impugned transactions. Although, an appeal against the above orders have been filed before this tribunal, even before us also, the respective assessee has not challenged the findings recorded by the lower authorities with relevant material and hence we dismiss these appeals. - Decided against assessee.
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