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Income Tax - Highlights / Catch Notes

Home Highlights June 2019 Year 2019 This

Addition u/s 68 - Bogus LTCG - penny stock purchases - list of ...

Income Tax

June 4, 2019

Addition u/s 68 - Bogus LTCG - penny stock purchases - list of beneficiaries submitted by the brokers/entry providers before the investigation wing substantiates that the assessee is one of the beneficiary - AO explained the entire working of the flow of conversion of black money into white using LTCG tax exemption in a circular pattern and back to him - exempt u/s 10(38) denied and entire sale consideration is taxable u/s 68

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