Bogus Long Term Capital Gains on purchase and sale of the shares ...

Case Laws Income Tax

November 19, 2018

Bogus Long Term Capital Gains on purchase and sale of the shares - claim of exemption made u/s 10(38) rejected - When there is no surviving adverse order of SEBI, against the claim of the assessee, no addition can be made.

View Source

← Previous Next →

Bogus Long Term Capital Gains on purchase and sale of the shares ...

Case Laws Income Tax

November 19, 2018

You may also like:

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...

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...

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

Claim of exemption u/s 10(38) on long term capital gain from sale of shares - AO only on extraneous considerations and presumptions & surmises has concluded that...

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...

The assessee provided documentary evidence supporting the purchase and subsequent sale of shares leading to long-term capital gains (LTCG). The evidence included...

The case pertains to the exemption u/s 10(23G) for long-term capital gains arising from the purchase of shares for creating infrastructure facilities. The key points...

There was a genuine transaction of purchase and sale of shares on which assessee has earned Long Term Capital Gain, and therefore, such Long Term Capital Gain cannot be...

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...

Bogus capital gain on sale of long term shares - exemption u/s 10(38) denied - The holding of the shares by the assessee cannot be doubted and the finding of the AO is...

Bogus LTCG - Disallowing exemption u/s 10(38) - penny stock - The said company held as a penny stock company by the authorities below without any corroborative evidence...

Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

The ITAT held that u/s 10(38), only long term capital gain from sale of shares/securities is exempt, not the entire source. Citing Royal Calcutta Turf Club case, it...

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

Quick Updates: