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2021 (1) TMI 1280 - AT - Income TaxBogus LTCG - Addition u/s 68 - investigation wing of the Department had held the script SRK Industries as bogus - Long Term Capital Gain on the sale of shares which are exempt u/s 10(38) denied by holding that the script in which the capital gain had accrued was a penny stock and bogus - HELD THAT:- Hon'ble I.T.A.T. Kolkata Bench in the case of Aditya Vikram Sureka HUF [2019 (10) TMI 837 - ITAT KOLKATA] has considered gain from scrip SRK Industries Ltd. and have allowed relief to the assessee. Similarly, we find that SMC Kolkata Bench in the case of Shreyans Chopra [2018 (7) TMI 2028 - ITAT KOLKATA] has allowed relief to the assessee on the same scrip - Also in AMRITA BAID [2018 (11) TMI 1924 - ITAT KOLKATA] capital gain on the script SRK Industries was allowed exempt u/s 10(38) - Decided in favour of assessee. Disallowance of commission paid - AO disallowed amount by holding that assessee failed to furnish address of the persons and he further held that tax at source was also not deducted - HELD THAT:- Before Learned CIT(A) it was submitted that assessee was not required to deduct TDS to which he agreed but upheld the addition by holding that no evidence was produced in support of commission paid. In this respect that assessee had furnished the information relating to persons to whom commission was paid where the name of one person including his address is mentioned and in respect of second person only name of the person is mentioned. Therefore, we accept the request of Learned AR for another opportunity to file the evidence of commission before A.O. and in view of that the second grievance of assessee is allowed for statistical purposes.
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