This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Addition u/s. 68 based on report unearthed in case of third party unsustainable
Case Law Details
- Case Name
- Sejalben N. Vora Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Sejalben N. Vora Vs ITO (ITAT Ahmedabad)
ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards long term capital gain treating sale of scrip as bogus on the basis of report unearthed in case of third party without any cogent material brought against assessee is unsustainable in the eye of law.
Facts- During the year under consideration, the appellant claimed substantial long term capital gain, exempt u/s. 10(38) of the Act on sale of script of M/s. Comfort Fincap Ltd. to the tune of Rs.1,65,74,716/-. On the basis of the investigation report issued by the Investigating Wing, K...
Author Info
Ad passing thro’ body of article. Unable to read the same.