Sham Transaction, Income Tax

[MALAY CHATURVEDI]

How an alleged sham transaction shall be deemed to be legally rebutted?.

or What are the ingredients to prove a alleged sham transaction to prove as genuine transaction ?.

or what constitutes sham transaction?

Posts / Replies

[kailash singhal]

FIRST THING IF TRANSACTION IS SHAM THEN NO POINT LEFT .

IN CASE DEPARTMENT IS TAKING THE VIEW ON THE BASIS OF OTHER PARTY DOCUMENTS, DIARY OR STATEMENT THEN ------DEALER / MFG HAS TO SHOW WEIGHMENT SLIP, CHEQUE PAYMENT DETAILS, BROKER DETAILS -- IF ANY , PRODUCTION DETAILS, FREIGHT PAYMENT, WAY BILL AND ASK FOR CROSS EXAMINATION WITH HOLDER/ OWNER OF DOCUMENTS --- BECAUSE DAIRY OF ONE PARTY SHOWS SOME NAME THEN DEPTT MAY ISSUE SUMMONS TO ALL PARTIES FROM THAT PARTY PURCHASES GOODS REGARDS CA KC SINGHAL, SILVASSA, 9824102121

[MALAY CHATURVEDI]

Mr. Kailash

​Is your response is qua quarry?