Penalty U/s. 271(1)(c) - claim of exemption u/s 10(38) whereas ...

Case Laws Income Tax

September 28, 2015

Penalty U/s. 271(1)(c) - claim of exemption u/s 10(38) whereas sale of shares was not through stock exchange - company adopted LIFO method where as AO adopted FIFO method for valuation of shares - LTCG claimed as STCG and setting off to the business loss claimed - this is not a fit case for levying penalty - AT

View Source

← Previous Next →

Penalty U/s. 271(1)(c) - claim of exemption u/s 10(38) whereas ...

Case Laws Income Tax

September 28, 2015

You may also like:

Claim of exemption u/s 10(38) on sale of share on capital gains earned on it - Conversion of stock in trade of shares into investment - benefit of exemption allowed - HC

Levy of penalty u/s 271(1)(c) - Denial of exemption of capital gains u/s 10(38) on account of sale of shares - The Tribunal also emphasized that the Revenue had failed...

Penalty u/s 271(1)(c) – Claim of exemption u/s 10(38) where no STT was paid - the assessee having not disclosed fully and truly all the material facts relevant to the...

Bogus LTCG - genuineness of transaction not proved - exemption u/s 10(38) - assessee failed to prove genuineness of transaction and long-term capital gain on sale of...

Exemption u/s 10(38) - bogus LTCG on purchase and sale of shares - disallowance brokerage expense - penny stock transaction - ssessee has successfully proved the...

Assessment u/s 153A - Bogus claim of LTCG - the assessee has discharged the necessary onus cast on him in terms of claim of exemption of long term capital gains u/s...

Penalty u/s 271(1)(c) - surrendered undisclosed income during the search and seizure - assessee contented that income disclosed in the return U/s 139(1) though claimed...

Long Term Capital Gain - denial exemption u/sec 10(38) - purchase and sale of shares and astronomical increase of share price of LD&PL which led to returns at 350%, in...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

Exemption u/s. 10(38) of long term capital gain - genuineness of transaction in shares - transaction of sale of shares were real, genuine and for valuable consideration...

Levy of penalty u/s 271(1)(c) - disallowance of bogus purchases by applying the profit rate - Once there is no reason to disbelieve the sales made by the assessee and...

Penalty u/s 271(1)(c) - the assessee had declared LTCG and had claimed it as exempt u/s 10(38) as it suffered STT but subsequently withdrew the claim - at the most it...

If the assessee has consistently treated the shares investment account as her investment for long-term purposes and has not shifted the stock in investment account to...

Addition u/s 68 - Penny stock purchases - addition on account of Long Term Capital Gains (LTCG) which the assessee derived from sale of scrip - exemption u/s 10(38)...

Penalty u/s 271(1)(c) - Making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars under Section 271(1)(c) of the Act. Mere making of a...

Quick Updates: