Tag: LTCG exempt 10(38)
Addition for bogus capital gain in penny stock company deleted as shares were purchased and sold before order of SEBI and investigation report ABCAUS Case Law Citation:ABCAUS 3814 (2023) (11) ITAT Important Case Laws relied upon by parties:Karuna Garg and Others In the instant case, the assessee had …
Appeal Fee to be paid to ITAT on appeal against Rectification order u/s 154– Residual clause of section 253(6)(d) not applicable says ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3679 (2023) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) / NFAC …
No Penalty u/s 271(1)(c) on filing revised return when no such questionnaire was issued with notice u/s 143(2) ABCAUS Case Law CitationABCAUS 3463 (2021) (03) ITAT Important case law relied referred:CIT vs. SSA’s Emerald MeadowsPr. CIT vs. Sahara India Life Insurance Company Ltd.ITO vs. Sitashri Trading & Finance …
Non-Central Government Employees also can now avail the benefit of income tax exemption on payment of cash equivalent of LTC fare, along the lines of the benefit made available to the Government Employees. Income-tax Exemption for payment of deemed LTC fare for non-Central Government employees Ministry of Finance …
Addition for investment in penny stock company remitted to record how assessee involved in promoting company and how inflated shares of company ABCAUS Case Law Citation:ABCAUS 3224 (2020) (01) ITAT Important case law relied upon by the parties:Kanhaiyalal & Sons (HUF) v. ITO In the instant case, the …
Sale of shares-Capital Gain or business income ? ITAT explains law in assessee’s favour quoting CBDT Instructions / Circulars and various judgments/case laws ABCAUS Case Law Citation: ABCAUS 3029 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Ramilaben D.Jain V/s. ACIT 97 Taxmann.com 217 Ratanlal …
LTCG exemption denied for Penny stock set aside by ITAT as AO had placed reliance on documents not confronted to the assessee ABCAUS Case Law Citation: ABCAUS 3000 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Kothari Metals Vs. ITO Mr. Sunil H Ashar Vs. …
Merely because share prices rose abnormally or other persons involved bogus transactions, Long Term Capital Gain exemption u/s 10(38) can not be denied – ITAT ABCAUS Case Law Citation: ABCAUS 2769 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties Jankinath Sarangi Vs State of Orissa …
Sale of long term equity shares chargeable u/s 10(38) from AY 2018-19 if not chargeable to securities transaction tax CBDT notifies transactions for which the condition of chargeability to STT for claiming exemption under Section 10(38) of the Income Tax Act, 1961 shall not apply. MINISTRY OF FINANCE …