Bogus LTCG - undisclosed income - assessee has shown the long ...

Assessee's Long-Term Capital Gains Deemed Legitimate; AO's Suspicion Lacked Evidence u/s 10(38) of Income Tax Act.

April 10, 2018

Case Laws Income Tax AT

Bogus LTCG - undisclosed income - assessee has shown the long term capital gain income exempt u/s 10(38) - arrangement with the person providing accommodation entries - addition made by the AO is merely based on suspicion and surmises without any cogent material - no additions - AT

View Source

← Previous Next →

Bogus LTCG - undisclosed income - assessee has shown the long ...

Assessee's Long-Term Capital Gains Deemed Legitimate; AO's Suspicion Lacked Evidence u/s 10(38) of Income Tax Act.

April 10, 2018

Case Laws Income Tax AT

You may also like:

ITAT adjudicated a dispute regarding capital gains taxation, specifically addressing the set-off of non-grandfathered short-term and long-term capital losses against...

Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

Computation of Long-term Capital Gains - non considering the INDEX COST of assets purchased u/s. 48 - The benefit of indexation while computing long term capital gains...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

During a search operation, the assessee surrendered a lump sum amount as alleged long-term capital gains from the sale of shares as additional income u/s 132(4). The...

Validity of re-opening of assessment u/s 147 - Procedure of recording satisfaction for reopening assessment - notice beyond period of four years - The ITAT observed...

Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

Addition on account of long term capital gain - AO has not brought on record any material which establish non-genuineness of the members of the society - all the members...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Exemption u/s 54EC - Assessee has not been able to raise any material contention to dispute this position. He has only submitted that the assessee wanted to invest the...

Set off of brought forward business loss and brought forward long term capital loss - capital gains computed u/s 50 is be deemed to be short-term capital gains and this...

Quick Updates: