Bogus LTCG - addition u/s 68 - denial of exempt u/s 10(38) - AO ...

Authorities Cannot Apply Section 68 Without Evidence; Section 10(38) Exemption Allowed for Alleged Bogus LTCG Scheme.

August 17, 2019

Case Laws Income Tax AT

Bogus LTCG - addition u/s 68 - denial of exempt u/s 10(38) - AO has nowhere in the assessment order referred to any material which can prove the complicity of assessee in the alleged accommodation entry operation, hence in the light of the documents furnished by the assessee, the authorities below were not justified in invoking the provisions of section 68 in regard to the sale proceeds of shares - exemption allowable

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Bogus LTCG - addition u/s 68 - denial of exempt u/s 10(38) - AO ...

Authorities Cannot Apply Section 68 Without Evidence; Section 10(38) Exemption Allowed for Alleged Bogus LTCG Scheme.

August 17, 2019

Case Laws Income Tax AT

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