Bogus LTCG - exemption claimed u/s 10(38) - Onus to prove - the ...

Taxpayer's Long Term Capital Gains Deemed Legitimate; SEBI Orders Highlight Malpractices but No Direct Implication Found.

January 4, 2023

Case Laws Income Tax AT

Bogus LTCG - exemption claimed u/s 10(38) - Onus to prove - the only logical recourse would be to place reliance on the orders passed by SEBI pointing out the malpractices by certain parties and taking action against them. Since assessee or his broker is not one of the parties who had been proceeded against by SEBI, the transaction carried out by the assessee cannot be termed as bogus. - AT

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Bogus LTCG - exemption claimed u/s 10(38) - Onus to prove - the ...

Taxpayer's Long Term Capital Gains Deemed Legitimate; SEBI Orders Highlight Malpractices but No Direct Implication Found.

January 4, 2023

Case Laws Income Tax AT

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