Bogus LTCG - the assessee was not allowed cross-examination of ...

Assessee denied cross-examination on bogus LTCG statement; Section 68 additions not permissible without it.

January 19, 2019

Case Laws Income Tax AT

Bogus LTCG - the assessee was not allowed cross-examination of the maker of the statement therefore, the statement of the persons cannot be used against the assessee for making addition u/s. 68.

View Source

← Previous Next →

Bogus LTCG - the assessee was not allowed cross-examination of ...

Assessee denied cross-examination on bogus LTCG statement; Section 68 additions not permissible without it.

January 19, 2019

Case Laws Income Tax AT

You may also like:

The Assessee, a regular investor in shares, made investments and sold a particular script when prices were high, resulting in Long Term Capital Gains (LTCG). The...

Bogus LTCG - Violation of principles of natural justice - before making addition in the hands of assessee proper opportunity of cross examining and opportunity to reply...

Bogus LTCG - exemption u/s 10(38) on sale of shares denied - During the appellate proceedings, the assessee was not made available any such statement and even the right...

Assessment u/s 153A - beneficiary of bogus LTCG - Addition u/s 68 - onus to prove - The whole basis of making additions is third-party statement and no opportunity of...

Bogus LTCG - Addition u/s 68 - onus to prove genuineness of the transactions - The whole basis of making additions is third-party statement and no opportunity of...

Bogus LTCG - exemption u/s 10(38) denied - The AO contended that the LTCG was undisclosed income arising from alleged manipulation in penny stocks. However, the assessee...

The summary focuses on the rejection of cross-examination of DRI officers and a co-noticee by the competent authority. The main objective of cross-examination is to...

Violation of principles of natural justice - denial of cross-examination - revocation of customs broker license, forfeiture of security deposit, and penalty imposed by...

The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal against the assessee company. The assessee had furnished all relevant documents and evidence to...

The ITAT Indore addressed unexplained cash investment for property purchase post search operation. Addition without cross-examination was challenged. The Tribunal...

Denial of cross-examination process of witness - ACIT restricted cross examination process by denying the questions asked by the Petitioner during cross examination -...

Bogus LTCG - addition u/s 68 - exemption of LTCG u/s 10(38) - penny stock - neither the assessee nor his broker are named as illegitimate beneficiary to bogus LTCG in...

The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

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

Principles of Natural Justice - Levy of Penalty - It is no doubt true that there is no right of cross-examination if sufficient corroborative evidence exists, but in the...

Quick Updates: