ITAT upheld addition for accommodation entry receipts as LTCG

Suman Poddar Vs ITO (ITAT Delhi)

The evidences put forth by the Revenue regarding the entry operation fairly leads to a conclusion that the assessee is one of the beneficiaries of the accommodation entry receipts in the form of long-term capital gains. The assessee has failed to prove that the share transactions are genuine and could not furnish evidences regarding the sale of shares except the copies

Please become a Premium member. If you are already a Premium member, login here to access the full content.