There was a genuine transaction of purchase and sale of shares ...

Income Tax

November 9, 2018

There was a genuine transaction of purchase and sale of shares on which assessee has earned Long Term Capital Gain, and therefore, such Long Term Capital Gain cannot be taxed u/s. 68. Since Long Term Capital Gain is exempted u/s. 10(38), therefore, no addition is called for

View Source

← Previous Next →

There was a genuine transaction of purchase and sale of shares ...

Income Tax

November 9, 2018

You may also like:

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...

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

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Disallowance of short term capital loss - creation of artificial loss - assessee appellants failed to discharge the onus, to prove the genuineness of the transactions of...

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...

Disallowance of long term capital loss on sale of shares - sham transactions or genuine transactions - - It seems to be a case of tax planning by the assessee, though...

Gain on sale of shares - accommodation entry or not - the income in question is a bonafide Long Term Capital Gain arising from the sale of shares and hence exempt from income tax

Set off of short term capital loss - Transaction in shares - When neither any payment was made nor any delivery was taken, then the transaction can not be held genuine - HC

Income earned by assessee on sale/purchase of shares and securities through PMS is to be assessed under the head “capital gains“ and not as business income of the assessee - AT

Deletion of LTCG as non-genuine - transactions in shares - Deletion of undisclosed commission paid for arranging accommodation entries - assessee proves that...

Quick Updates: