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A transaction fully supported by documentary evidences cannot be brushed aside on suspicion & surmises
Case Law Details
- Case Name
- Commissioner of income tax Vs M/s. Alpine investments (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Calcutta High Court
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CIT Vs M/s. Alpine investments (Calcutta High Court)
Section 68 Bogus Capital Gains From Penny Stocks:
It appears that the share loss and the whole transactions were supported by contract notes, bills and were carried out through recognized stockbroker of the Calcutta Stock Exchange and all the payments made to the stockbroker and all the payments received from stockbroker through account payee instruments, which were also filed in accordance with the assessment.
It appears from the facts and materials placed before the Tribunal and after examining the same the Tribunal came...
