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    Income Tax

    Understatement of sales consideration - dubious or bogus or...

    Examining Understatement in Dubious Transactions: Price Fluctuations in Share Trading Not Always a Tax Evasion Tactic.

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    Income TaxSeptember 24, 2016Case LawsAT

    Understatement of sales consideration - dubious or bogus or collusive transaction - when the prices will go up and down, that may result in gain or loss, it cannot be said that it is colourable device adopted by the assessee - One who deals in shares in the open market, knows the depth of the same and not the AO. - AT

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