Assessment u/s 153A - sham loss on sale of shares - Assessee ...

Case Laws Income Tax

October 15, 2020

Assessment u/s 153A - sham loss on sale of shares - Assessee himself has discredited the entries pertaining the purchase and sale transactions of shares in its books. The submissions remains un-repudiated to our understanding. It is thus observed that the assessee has come forward to make an inexplicable and strange admission that certain profits arising on sale of shares have been introduced in the books unilaterally as book / paper entries without any supporting material. - AT

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Assessment u/s 153A - sham loss on sale of shares - Assessee ...

Case Laws Income Tax

October 15, 2020

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