Shares Invested in Paper Companies: ITAT confirms Disallowance of LTCG [Read Order]

Long Term Capital Gain - Shares - Paper Companies - ITAT - LTCG - taxscan

The Delhi Bench Income Tax Appellate Tribunal has confirmed the disallowance of long term capital gains (LTCG) u/s 68 of the Act since shares invested in paper companies. The assessee, Sanjeev Kumar Agarwal (HUF) has filed its return of income electronically declaring total income of Rs.7,91,340/-. Subsequently, the case was selected for complete scrutiny under…

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Sanjeev Kumar Agarwal (HUF) vs ITO

CITATION:   2022 TAXSCAN (ITAT) 525

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