This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Bogus LTCG Allegation: ITAT Remands ₹2.28 Cr Addition as AO Failed to Independently Verify Evidence
Case Law Details
- Case Name
- Kimaya Anurag Agarwal Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Kimaya Anurag Agarwal Vs ITO (ITAT Ahmedabad)
ITAT Ahmedabad restores penny stock LTCG case for fresh assessment – Assessee claims genuine documents were ignored, seeks opportunity to prove transactions
Assessee earned Long-Term Capital Gain of ₹2.28 crore from sale of shares of Regency Trust Ltd. & claimed exemption u/s 10(38). AO reopened the assessment based solely on Investigation Wing information alleging that Regency Trust was a penny stock used for bogus LTCG accommodation entries. Without conducting any independent enquiry or providing any material to Asses...
Author Info
