Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2016 Year 2016 This

Unaccounted purchase and sale of share - there is no reason for ...

Income Tax

February 3, 2016

Unaccounted purchase and sale of share - there is no reason for addition on the basis of shortage of delivery of 500 shares since contra account of broker also shows stock at 62272 shares. - AT

View Source

 


 

You may also like:

  1. Bogus purchases - addition made on the basis of Maharastra VAT authorities to the effect that assessee’s suppliers have issued bogus invoices without involving any...

  2. Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

  3. Duty demand - Discrepancy in RG-1 Register - Shortage in goods - charges of clandestine activities are required to be upheld on the basis of sufficient cogent reasons...

  4. The purchases made cannot be held as bogus merely on presumption and surmises and on the sole reasoning that the assessee was unable to produce delivery challan / angadia receipts.

  5. Addition made on account of unaccounted cash receipts – Cash receipts of brokerage – Sale of car parking charges - the assessee’s purchases cannot be doubted on ad-hoc basis - AT

  6. Sale of shares - Capital Gains or business income - it will not be appropriate to assess the income declared by the assessee from sale and purchase of shares as business...

  7. Addition being unverified sundry debtors - Additions have been confirmed on account of bogus purchases - Any addition out of the sales made out of the aforesaid...

  8. Penalty proceedings u/s 271B - requirement of getting tax audit u/s 44AB - Determination of turnover - non-delivery based trading of shares and securities - in such case...

  9. Genuineness of the Transaction – LTCG on sale of shares – shares of listing company were purchased in cash - The AO had not committed any error in rejecting the claim of...

  10. Sale of shares - long term capital gains or short term - Whether purchase of the shares can be considered only on the date of dematerialization – AT

 

Quick Updates:Latest Updates