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LONG TERM CAPITAL GAIN, Income Tax |
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LONG TERM CAPITAL GAIN |
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RECENT CASE LAWS ON GENUINEITY OF LONG TERM CAPITAL GAIN
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Bogus or genuine are matters of facts. Experience shows that besides being genuine, the transaction must also appear to be genuine supported by usual/ normal and customary documents. lack of usual documents and existence of unusual or superflous documents both can go against even a genuine transaction.
Case law may not help much becasue each case can be different on facts.- rely on usual, customary documents.
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