Bogus LTCG - exemption u/s 10(38) - penny stock transactions - ...

Income Tax

August 30, 2019

Bogus LTCG - exemption u/s 10(38) - penny stock transactions - when as per the AO’s own observation the source as well as source of source for receipt of sale consideration were found through proper banking channel then the so-called evidences in the form of cash trail of transactions did not conclusively prove that the proceeds realized from sale of shares could be considered as appellant’s undisclosed income - exemption allowable

View Source

← Previous Next →

Bogus LTCG - exemption u/s 10(38) - penny stock transactions - ...

Income Tax

August 30, 2019

You may also like:

Addition u/s 68 - bogus LTCG - penny stock transaction - The ITAT observed that even though characteristics of penny stock transactions were present, there was no direct...

Bogus LTCG - Disallowance on claim of exemption u/s. 10(38) of LTCG - penny stock transactions - The price rise of the penny stock scrip was abrupt, sudden and...

Disallowance of exemption claimed u/s. 10(38) - Bogus LTCG - Penny stock transactions - The SEBI has suspended the penny stock of those companies, who involved in...

Exemption u/s 10(38) - bogus LTCG on purchase and sale of shares - disallowance brokerage expense - penny stock transaction - ssessee has successfully proved the...

Bogus LTCG - exemption u/s 10(38) denied - The AO contended that the LTCG was undisclosed income arising from alleged manipulation in penny stocks. However, the assessee...

Bogus LTCG - Penny stock transaction - denying exemption u/s. 10(38) - This is a classic case of penny stock transaction. Such conversion of unaccounted money through...

Bogus LTCG - addition u/s 68 - exemption of LTCG u/s 10(38) - penny stock - neither the assessee nor his broker are named as illegitimate beneficiary to bogus LTCG in...

Bogus LTCG - Addition u/s 68 - bogus penny stock transaction - suspicion v/s facts - disallowing the exemption u/s 10(38) - The assessee has demonstrated with...

Bogus LTCG - Disallowing exemption u/s 10(38) - penny stock - The said company held as a penny stock company by the authorities below without any corroborative evidence...

Bogus LTCG - genuineness of transaction not proved - exemption u/s 10(38) - assessee failed to prove genuineness of transaction and long-term capital gain on sale of...

Quick Updates: