Bogus LTCG - Addition u/s. 68 - penny stock - assessee placed ...

No Evidence Found Linking Assessee to Bogus LTCG from Penny Stocks; Section 68 Addition Not Made.

June 5, 2019

Case Laws Income Tax AT

Bogus LTCG - Addition u/s. 68 - penny stock - assessee placed all evidence - a specific query is put up as to whether any of entry operators searched or survey has quoted these assessee's names or not before the Departmental Authorities - there is no such material in the case file indicating search as statement - no addition - LTCG allowable

View Source

← Previous Next →

Bogus LTCG - Addition u/s. 68 - penny stock - assessee placed ...

No Evidence Found Linking Assessee to Bogus LTCG from Penny Stocks; Section 68 Addition Not Made.

June 5, 2019

Case Laws Income Tax AT

You may also like:

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

Addition u/s 68 - bogus LTCG - penny stock transaction - The ITAT observed that even though characteristics of penny stock transactions were present, there was no direct...

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...

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...

Bogus LTCG - disallowance of exemption claimed by assessee u/s 10(38) on account of LTCG - there is no live link in the order of SEBI about the transactions of shares of...

Bogus LTCG - penny stock - addition u/s 68 - The AO failed to bring on board any material to suggest that the assessee had made cash payment to the purchaser of share...

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 - 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...

Addition u/s. 69B - penny stock - mere suspicion that the assessee has invested in alleged penny stock scrip cannot be made basis of addition u/s. 69B of the Act. In the...

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

Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

Assessment u/s 153A - Addition u/s 68 - bogus LTCG - penny Stocks - whether documents found during the course of search were of incriminating nature? - The tribunal...

Addition u/s 68 r.w.s. 115BBE - Bogus LTCG - The Tribunal examined the transactions and found that the entire addition made by the Assessing Officer was based on...

Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to...

Quick Updates: