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Bogus LTCG Addition Sustained as Tribunal Finds Evidence of Fabricated Share Purchase Records
Case Law Details
- Case Name
- Dinesh Kumar (HUF) Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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Dinesh Kumar (HUF) Vs ITO (ITAT Delhi)
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) partly allowed the appeal filed by the assessee for Assessment Year 2015-16 against the order of the Commissioner of Income Tax (Appeals), Ghaziabad. The assessee had filed a return declaring income of Rs.2,52,060 and claimed exemption under Section 10(38) of the Income-tax Act on long-term capital gains (LTCG) amounting to Rs.28,59,645 arising from the sale of shares of M/s CCL International Ltd. The assessee had stated that 12,500 shares of the company were purchased in physical form on 17 Augu...
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