Addition u/s 68 - LTCG on sale of penny stock - considering the ...

Case Laws Income Tax

August 9, 2019

Addition u/s 68 - LTCG on sale of penny stock - considering the vortex of evidences, the assessee has successfully discharged the onus cast upon him by provisions of section 68 - discharge of onus u/s 68 is purely a question of fact and therefore the judicial decisions relied upon by the DR would do no good on the peculiar plethora of evidences in respect of the facts of the case in hand - no addition

View Source

← Previous Next →

Addition u/s 68 - LTCG on sale of penny stock - considering the ...

Case Laws Income Tax

August 9, 2019

You may also like:

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...

Long Term Capital Gain - penny stock - assessee produced all evidences to explain the source of the amounts received from the brokers and there is no evidence on record...

Bogus LTCG - Addition u/s 68 - bogus penny stock transaction - suspicion v/s facts - disallowing the exemption u/s 10(38) - The assessee has demonstrated with...

The ITAT Surat held that disallowance of business loss on sale of securities as LTCG in penny stocks was unjustified. The AO failed to provide evidence of collusive...

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 - 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...

Addition u/s 68 r.w.s 115BBE - As cash receipts represent the sales which the assessee has rightly offered for taxation. We have gone through the trading account and...

The assessee received cash credits which were treated as unexplained income u/s 68 by the Assessing Officer (AO). However, the Commissioner of Income Tax (Appeals)...

Addition u/s 68 - Bogus LTCG - penny stock purchases - list of beneficiaries submitted by the brokers/entry providers before the investigation wing substantiates that...

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...

Addition u/s 68 - Bogus LTCG - Penny stock transactions - The Tribunal found that the assessee had provided sufficient documentary evidence supporting the genuineness of...

Bogus share transactions involving abnormal price rise in penny stock shares - Assessee produced evidence of share purchase, existence in demat account - AO failed to...

Bogus long-term capital gains (LTCG) arising from sale of shares - AO held that the said LTCG/loss are fabricated/engineered transactions by the respective assessees,...

Addition u/s 68 - LTCG - penny stock companies - A.O. merely relied upon interim order of the SEBI to make addition against the assessee, otherwise, there were no...

Quick Updates: