Addition u/s 68 - suspicious sale transaction in shares (penny ...

Section 68 Dispute: Tax Department's Suspicion on Share Transaction Gains Lacks Concrete Evidence, Relies on Speculation.

February 13, 2021

Case Laws Income Tax AT

Addition u/s 68 - suspicious sale transaction in shares (penny scrip) - bogus LTCG - The assessee merely acted on the basis of such market information and happened to get phenomenal gain. It could have been otherwise as well. The rags to riches story in the stock market are galore. - In the absence of any link between the assessee and the alleged admissions of the directors and brokers, human probability is being used as a vague and convenient medium for the department’s conjectures - AT

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Addition u/s 68 - suspicious sale transaction in shares (penny ...

Section 68 Dispute: Tax Department's Suspicion on Share Transaction Gains Lacks Concrete Evidence, Relies on Speculation.

February 13, 2021

Case Laws Income Tax AT

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