This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
LTCG Exemption Allowed as Documentary Evidence Outweighed Penny Stock Allegations
Case Law Details
- Case Name
- DCIT Vs Shikha Indrakumar Agrawal (ITAT Nagpur)
- 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 Nagpur
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
DCIT Vs Shikha Indrakumar Agrawal (ITAT Nagpur)
The Nagpur Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeal and upheld deletion of additions made under Sections 68 and 69C in respect of long-term capital gains claimed as exempt under Section 10(38) on sale of listed shares. The assessee had purchased 24,000 shares of GCM Securities Ltd. for ₹4.80 lakh, which were later sold through a registered stock broker on the stock exchange for ₹1.36 crore, resulting in long-term capital gains of ₹1.32 crore, claimed exempt under Section 10(38). The Assess...
Author Info
