This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Dividend from Mutual Funds Cannot Be Treated as Bogus U/s 68 – SEBI Confirmation Consistent ITAT View Upheld
Case Law Details
- Case Name
- DCIT Vs Reliance Industries Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
DCIT Vs Reliance Industries Limited (ITAT Mumbai)
Dividend from Mutual Funds Cannot Be Treated as Bogus u/s 68 – SEBI Confirmation Consistent ITAT View Upheld
AO treated ₹615.81 Cr dividend received from JM Balanced Fund & JM Equity Fund as unexplained cash credit u/s 68 (r.w.s. 115BBE), alleging sham transactions based on survey on fund manager. CIT(A) deleted the addition.
ITAT upheld CIT(A) and held:
Identity, source & genuineness established: Dividend received from identifiable mutual funds through banking channels
SEBI (regulator) confirmed no violation: ...
Author Info
