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2022 (11) TMI 810 - AT - Income TaxBogus loss from sale of equity shares - disallowance of assessees’ claim of exemption u/s 10(38) of the Act in respect of long-term capital gain arising from sale of equity shares - HELD THAT:- As similar to the facts dealt in the case of Swati Bajaj [2022 (6) TMI 670 - CALCUTTA HIGH COURT] and the submissions made by the ld. Counsel for the assessees that the alleged claim of long-term capital gain under section 10(38) in the case of Manish Goel and Modhu Goel and loss claimed in the case of Enkay Trafin Pvt. Limited are accommodation/bogus entries through penny stock companies is found to be correct. We herefore, respectfully following the ratio laid down in the case of Swati Bajaj (supra) confirm the additions made by the AO in respect of bogus long-term capital gain/bogus loss. - Decided against assessee.
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