Income from share transactions - the assessee had indulged in a ...

Income Tax

May 22, 2017

Income from share transactions - the assessee had indulged in a dubious share transaction meant to account for the undisclosed income in the garb of long term capital gain - the fantastic sale price was not at all possible as there was no economic or financial basis as to how a share worth ₹ 5/of a little known company would jump from ₹ 5/to ₹ 485/. - Additions confirmed - HC

View Source

← Previous Next →

Income from share transactions - the assessee had indulged in a ...

Income Tax

May 22, 2017

You may also like:

Sale of shares - share broker - Revenue condemned the share transaction of the assessee and held them to sham merely because some share brokers were found to be indulged...

Department failed to establish that Sale and lease back transaction was really a sham and dubious transaction and was a colourable device, depreciation allowed

Addition u/s 68 - assessee has received share application money as unexplained - In the instant case, assessee has only established identity of the creditor,...

Transaction of shares - capital gain or business income - AO has not come to finding whether the assessee has carried out repetitive transactions of same share - treated...

Long term capital loss on sale of shares - Just because of assessee sold shares to daughter and sister concern, it cannot be considered that the transactions are sham...

Surplus of shares transactions - long term capital gains or business profits - mere volume of transactions transacted by the assessee would not alter the nature of...

Addition u/s 68 - share application money - preference shares - additions as dubious transaction for which no proper explanation was given - the assessee was provided...

Bogus LTCG - share price increased multi-fold - Allegation that there is artificial increase by circular trading of shares forming carte - It clearly raises several...

Unexplained cash credit u/s 68 - assessee has claimed to sell the share very high as compared to Bombay Stock Exchange quoted price - Prima facie there has to be some...

Addition u/s 68 - assessee has substantiated the transaction regarding share application money received by it was genuine transaction and the same were not accommodation...

Quick Updates: