Addition u/s 68 - genuineness of transactions of purchase of ...

Court Rules Share Transactions Void: Deceptive Scheme u/s 68 to Hide Income, Key Information Withheld from Tax Authorities.

December 10, 2022

Case Laws Income Tax AT

Addition u/s 68 - genuineness of transactions of purchase of shares - appellant deliberately withheld the information from the AO as well as the CIT(A) which is within exclusive knowledge of appellant - the transaction of purchase and sale of shares of SRK Industries under consideration before us is void ab-initio, this is nothing but sham, make believe and colourful device adopted with excellent paper work with intention bringing the undisclosed income into books of account. - AT

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Addition u/s 68 - genuineness of transactions of purchase of ...

Court Rules Share Transactions Void: Deceptive Scheme u/s 68 to Hide Income, Key Information Withheld from Tax Authorities.

December 10, 2022

Case Laws Income Tax AT

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