Addition of sale proceeds of the shares as undisclosed income of ...

Court Rejects Exemption Claim; Undisclosed Income from Share Sales Added u/s 68 Due to Lack of Evidence.

September 8, 2018

Case Laws Income Tax AT

Addition of sale proceeds of the shares as undisclosed income of the assessee u/s 68 - rejecting the claim of the assessee exemption u/s 10(38) - Claim cannot be rejected on the basis of suspicion, surmises and conjectures. It is to be kept in mind that suspicion how so ever strong, cannot partake the character of legal evidence.

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Addition of sale proceeds of the shares as undisclosed income of ...

Court Rejects Exemption Claim; Undisclosed Income from Share Sales Added u/s 68 Due to Lack of Evidence.

September 8, 2018

Case Laws Income Tax AT

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