Addition u/s 68 - bogus LTCG - Transaction with shell companies ...

Taxpayer Wins: Section 68 Addition Deleted for Alleged Bogus Capital Gains with Shell Companies; Shares Sold at Market Value.

November 3, 2023

Case Laws Income Tax AT

Addition u/s 68 - bogus LTCG - Transaction with shell companies - No adverse inference can be drawn against the assessee on basis of doubtful credentials of SVPL as the assessee has parted away with a valuable asset i.e. shares of a company having prime immovable property at Hailey Road Delhi and in lieu thereof, the assessee had received sale consideration at market price/fair market value. - CIT(A) rightly deleted the additions - AT

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Addition u/s 68 - bogus LTCG - Transaction with shell companies ...

Taxpayer Wins: Section 68 Addition Deleted for Alleged Bogus Capital Gains with Shell Companies; Shares Sold at Market Value.

November 3, 2023

Case Laws Income Tax AT

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