Bogus LTCG - share price increased multi-fold - Allegation that ...

Allegations of Share Price Inflation Dismissed Due to Lack of Evidence Linking Taxpayer to Fraudulent Trading Practices.

January 10, 2024

Case Laws Income Tax AT

Bogus LTCG - share price increased multi-fold - Allegation that there is artificial increase by circular trading of shares forming carte - It clearly raises several doubt on the purchase and sales transactions recorded in this case. However, there is no discrepancies in the documents filed by the assessee claiming the deductions u/s 10(38). At the same time, even though all the characteristics of the penny stock exists in the present case, still the revenue has not brought on record any materials linking the assessee in any dubious transactions relating to entry, price rigging or exit providers. - AT

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Bogus LTCG - share price increased multi-fold - Allegation that ...

Allegations of Share Price Inflation Dismissed Due to Lack of Evidence Linking Taxpayer to Fraudulent Trading Practices.

January 10, 2024

Case Laws Income Tax AT

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