Bogus Short term capital loss - accommodation entry transactions ...

Court Deletes Additions: No Ambiguity in Share Transactions via SEBI Brokers, Short-Term Capital Loss Deemed Genuine.

August 9, 2023

Case Laws Income Tax AT

Bogus Short term capital loss - accommodation entry transactions - No ambiguity in the sale and purchase of shares through the SEBI brokers - Assessee had purchased the shares through contract note and sold all the shares through contract note. It is also noteworthy to mention that shares purchased by the assessee were credited in his D Mat account and they were transferred accordingly. - Additions deleted - AT

View Source

← Previous Next →

Bogus Short term capital loss - accommodation entry transactions ...

Court Deletes Additions: No Ambiguity in Share Transactions via SEBI Brokers, Short-Term Capital Loss Deemed Genuine.

August 9, 2023

Case Laws Income Tax AT

You may also like:

Bogus LTCG on shares - Addition u/s 68 - Transactions in Shares - For making an addition holding that transaction are bogus, the LD AO should have made inquiries on the...

Addition u/s 68 - bogus share transactions - as alleged transactions in shares, “penny stock” are fraudulent and accommodation entries - The Appellate Tribunal noted...

Addition u/s 68 - cash credit - assessee being a share broker - All the equity shares so purchased first came in the Demat account of the assessee broker and then has...

Disallowing set off of short term capital loss on sale of shares scrips against the short term & long term capital gain - ingenuine transaction - merely because there...

Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

Sale of shares - share broker - Revenue condemned the share transaction of the assessee and held them to sham merely because some share brokers were found to be indulged...

Addition u/s 68 - Bogus LTCG - Penny stock transactions - The Tribunal found that the assessee had provided sufficient documentary evidence supporting the genuineness of...

Private commercial transactions involving acquisition of shares in a life insurance company were challenged on allegations of fraudulent acts and undue profits. The...

Addition u/s 68 - LTCG by entering into off market transaction of shares - the transaction which has been concluded within four corners of Law cannot be treated as...

The ITAT deleted additions related to dividend and interest income, holding that dividend could not be assessed in the hands of the appellant for unregistered shares,...

In this case, the Income Tax Appellate Tribunal (ITAT) examined the additions made by the Assessing Officer (AO) regarding long-term capital gains (LTCG) from share...

Validity of Reopening of assessment - reason to belief - Bogus share transactions - AO, while recording the reasons, has not applied his mind and has not brought out any...

Treatment to loss on shares - bogus loss - the broker was not suspended during the period, when the transactions for sale & purchase of the shares taken place - the...

Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

Reopening of assessment u/s 147 - Addition u/s 68 - bogus LTCG - bogus share transaction - It is immaterial that order of the SEBI came in 2018 because the SEBI has...

Quick Updates: