Addition u/s 68 on account of bogus long term capital gain - AO ...

Taxpayer's Exemption Claim u/s 10(38) Upheld; AO's Undisclosed Income Assessment u/s 68 Overturned.

April 6, 2020

Case Laws Income Tax AT

Addition u/s 68 on account of bogus long term capital gain - AO was not justified in rejecting the assessee’s claim of exemption u/s 10(38) of the Act. AO was not justified in assessing the sale proceeds of shares of KAFL as undisclosed income of the assessee u/s 68 of the Act. - AT

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Addition u/s 68 on account of bogus long term capital gain - AO ...

Taxpayer's Exemption Claim u/s 10(38) Upheld; AO's Undisclosed Income Assessment u/s 68 Overturned.

April 6, 2020

Case Laws Income Tax AT

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