Bogus LTCG on shares - Addition u/s 68 - Transactions in Shares ...

Case Laws Income Tax

May 18, 2023

Bogus LTCG on shares - Addition u/s 68 - Transactions in Shares - For making an addition holding that transaction are bogus, the LD AO should have made inquiries on the documents submitted by the Assessee. Most important is the inquiry based on date and Time stamp of the transactions at stock exchanges. Buy and sale timing based on date and time stamp of trade would have led to exit providers and where the securities have travelled after sale, who provided the funds to the buyers, how the broker of buyer of shares are involved in these transactions. - Additions deleted - AT

View Source

← Previous Next →

Bogus LTCG on shares - Addition u/s 68 - Transactions in Shares ...

Case Laws Income Tax

May 18, 2023

You may also like:

Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to...

Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

Addition u/s 68 - bogus share transactions - as alleged transactions in shares, “penny stock” are fraudulent and accommodation entries - The Appellate Tribunal noted...

Addition u/s 68 - bogus LTCG on sale of shares - The purchase of shares and the sale of shares were also reflected in Demat account statements. The sale of shares...

Addition u/s 68 r.w.s. 115BBE - Bogus LTCG - The Tribunal examined the transactions and found that the entire addition made by the Assessing Officer was based on...

Bogus LTCG - Addition u/s 68 - bogus penny stock transaction - suspicion v/s facts - disallowing the exemption u/s 10(38) - The assessee has demonstrated with...

Addition u/s 68 - Bogus LTCG on sale of shares - all the documentary evidences have not been found to be non genuine and the source of sale consideration is well...

Bogus LTCG - addition u/s 68 - the assessee is a habitual investor having portfolio of investment in shares in crores and is still holding investment in shares in...

Bogus long-term capital gains (LTCG) arising from sale of shares - AO held that the said LTCG/loss are fabricated/engineered transactions by the respective assessees,...

Addition u/s 68 - share capital issued at the premium - unexplained cash credit - Assessee has fully discharged its onus cast under section 68 of the Act and proved the...

Bogus LTCG - penny stock - addition u/s 68 - The AO failed to bring on board any material to suggest that the assessee had made cash payment to the purchaser of share...

Bogus LTCG - bogus share transaction - As in so far as cancellation of registration of sub-broker by the NSE through whom the assessee had sold shares of Buniyad...

Addition u/s 68 - Bogus LTCG - Applying the said doctrine, we have no hesitation to hold that the transaction of purchase and sale of shares of SRK Industries under...

Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

Bogus LTCG - Addition u/s 68 - onus to prove genuineness of the transactions - The whole basis of making additions is third-party statement and no opportunity of...

Quick Updates: