Mere Transaction through DMAT Account or Sale of the Shares on Stock Exchange Cannot Rebut S.68: ITAT [Read Order]

Mere transaction - DMAT account or sale of the shares on stock exchange - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that mere transaction through dematerialization account (DMAT) or sale of the shares on stock exchange could not be rebutted under Section 68 of the Income Tax Act 1961. The AO had found that the LTCG on sales of shares of  Kappac Pharma Ltd by…

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