Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

LTCG - merely on the basis of the reason that share broker was ...

Case Laws     Income Tax

November 22, 2013

LTCG - merely on the basis of the reason that share broker was involved in unfair trade practice in collusion with others, where a person who bonafidely entered into share transaction of that company through such broker then only by mere assumption such transactions cannot be held to be a shame transaction. - AT

View Source

 


 

You may also like:

  1. Sale of shares - share broker - Revenue condemned the share transaction of the assessee and held them to sham merely because some share brokers were found to be indulged...

  2. The assessee, a professional stock broker, claimed loss on trading of shares which was disallowed by the Assessing Officer (AO) on the grounds that the trades were not...

  3. Substantial profits were generated by trading entities based on advance receipt of non-public information regarding stock recommendations from guest experts appearing on...

  4. Bogus LTCG on shares - Addition u/s 68 - Transactions in Shares - For making an addition holding that transaction are bogus, the LD AO should have made inquiries on the...

  5. Manipulative, fraudulent and unfair trade practices – Circular trading – not in dispute that six clients of Appellant acted in collusion amongst each other in...

  6. Fraudulent/ manipulative practices under the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market)...

  7. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

  8. Practice of assessment of imports of Petroleum products under CTH 2710-Reg - Trade Notice

  9. SEBI issued a circular on Internet Based Trading (IBT) for stock brokers to enhance ease of doing business. Stock brokers must apply to the exchange for IBT service...

  10. Reopening of assessment - reason to believe or reason to suspect - The ITAT examined the "reasons recorded" by the AO for reopening the assessment. It noted that the AO...

  11. Characterization of income - Trading in shares - d 'capital gains' or 'business income' - While maintenance of capital and trading transactions as a separate category in...

  12. Unfair trade practices - high discount on the sale price of the drugs -it is beyond the scope of Commissioner of Sales Tax, to probe - HC

  13. Disallowances of bogus trading loss in penny stock as well as commission expenses - admittedly there was no evidence available on record suggesting that the assessee or...

  14. Bogus LTCG - bogus share transaction - As in so far as cancellation of registration of sub-broker by the NSE through whom the assessee had sold shares of Buniyad...

  15. During the last few years assessee company followed the same practice of holding certain shares under the head “Investment” and some shares as “Stock in trade”....

 

Quick Updates:Latest Updates