Bogus capital gain on sale of long term shares - exemption u/s ...

Case Laws Income Tax

December 11, 2018

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 based merely on the suspicion and surmises without any cogent material to show that the assessee has introduction his unaccounted income in the shape of long term capital gain.

View Source

← Previous Next →

Bogus capital gain on sale of long term shares - exemption u/s ...

Case Laws Income Tax

December 11, 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...

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

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...

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...

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...

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...

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

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...

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...

Addition u/s 68 - Bogus LTCG on sale of shares - all the documentary evidences have not been found to be non genuine and the source of sale consideration is well...

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...

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...

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...

Disallowance of set off and carry forward of Long Term Capital Loss of sale of quoted equity shares (STT paid) against LTCG arising on sale of property - the income...

Quick Updates: