Off market transactions - genuineness - When the sale price ...

Off-market transaction genuineness confirmed when sale price matches high share price on specified date. Market rates upheld.

October 16, 2013

Case Laws Income Tax AT

Off market transactions - genuineness - When the sale price adopted by the assessee is close to the high price of the concerned share on the relevant date, it cannot be said that the transactions effected by the assessee is not at market rate - AT

View Source

← Previous Next →

Off market transactions - genuineness - When the sale price ...

Off-market transaction genuineness confirmed when sale price matches high share price on specified date. Market rates upheld.

October 16, 2013

Case Laws Income Tax AT

You may also like:

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

Income from undisclosed sources - Transaction of sale and purchase of shares - off market transaction - genuine or not - Although, it was an off market transaction but...

Disallowance of loss on trading in Mentha oil - sale below market price - unrelated party transactions - The assessee has to arrange his business affair keeping in view...

Assessment of sales shown in accounts at low prices - Benefit of exemption from VAT - sale of footwear - The language of the section is specific insofar as it states...

Genuineness of sale price of shares - transfer of same share at different price - a much higher price in the hands of Empee Sugars & Chemicals Ltd., was undoubtedly to...

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Enhancement of transaction value - price list reflects the retail sale price of the items in the domestic market - price lists are merely the quotation of the prices...

Deemed dividend u/s 2(22)(e) - receipt of advance against agreement to sale the property to the company - subsequently agreement was cancelled due to fall in market...

Exemption of purchase Tax – Genuineness of the transactions - Goods bought prior to cancellation of registration – When the said dealer has not proved the genuineness...

Determination of sale price - Inclusion of mandi fees payable by the purchaser to the market Committee - it would remain outside the sale price - HC

The High Court examined the method of valuation of stock and the application of the principle of consistency and regularity. It held that while the principle of...

Bogus LTCG - penny stock purchases - it was only accommodation entries which is in operation in the market and the assessee is not a genuine buyer and seller of the...

Capital gain on sale of shares - market price or agreed price - transfer of shares by obtaining interest free loans for a long tenure coupled with call option agreements...

In the absence of any evidence to show either that the sales were sham transactions or that the market prices were in fact paid by the purchasers, the mere fact that the...

Quick Updates: