Assessment u/s 153A - Bogus claim of LTCG - the assessee has ...

Taxpayer Proves Authenticity of Share Transactions; LTCG Exemption Valid u/s 10(38) in Section 153A Assessment.

November 28, 2020

Case Laws Income Tax AT

Assessment u/s 153A - Bogus claim of LTCG - the assessee has discharged the necessary onus cast on him in terms of claim of exemption of long term capital gains u/s 10(38) of the Act by establishing the genuineness of transaction of purchase and sale of shares and satisfying the requisite conditions specified therein and the gains so arising on sale of shares therefore has been rightly claimed as exempt u/s 10(38) - AT

View Source

← Previous Next →

Assessment u/s 153A - Bogus claim of LTCG - the assessee has ...

Taxpayer Proves Authenticity of Share Transactions; LTCG Exemption Valid u/s 10(38) in Section 153A Assessment.

November 28, 2020

Case Laws Income Tax AT

You may also like:

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...

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

ITAT reversed AO's addition under section 68 regarding alleged bogus long-term capital gains (LTCG). The tribunal found insufficient evidence to reject taxpayer's claim...

The assessee provided documentary evidence supporting the purchase and subsequent sale of shares leading to long-term capital gains (LTCG). The evidence included...

The Appellate Tribunal addressed the issue of alleged bogus long-term capital gain u/s 10(38) concerning a transaction involving shares of a company flagged as a penny...

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...

Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to...

Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

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...

The Appellate Tribunal upheld the addition u/s 68 as the assessee failed to prove the genuineness of LTCG claimed u/s 10(38). The AO found discrepancies in off-market...

Bogus LTCG - bogus share transaction - As in so far as cancellation of registration of sub-broker by the NSE through whom the assessee had sold shares of Buniyad...

Exemption u/s. 10(38) of long term capital gain - genuineness of transaction in shares - transaction of sale of shares were real, genuine and for valuable consideration...

The case pertains to the exemption u/s 10(23G) for long-term capital gains arising from the purchase of shares for creating infrastructure facilities. The key points...

Exemption u/s 10(38) - If the share holder chooses to transfer the lands and part with the land to the purchaser of the shares, it would be a valid legal transaction in...

Bogus LTCG - exemption under section 10(38) denied - The onus was on the assessee to prove the transaction leading to claim of long-term capital gain was a genuine...

Quick Updates: