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Bogus LTCG Addition u/s 68 Not Sustainable: ITAT Validates Demerger-Allotted Shares Transaction Citing Genuineness of Documentary Evidence [Read Order]

Franklin Joshva

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the long-term capital gains (LTCG) from sale of shares allotted pursuant to a...

Unexplained 33- Fold Share Price Increase: ITAT Upholds ₹80.17 Lakh Bogus LTCG Addition u/s 68 [Read...

ITAT Upholds Deletion of Bogus LTCG Addition, Rules No Evidence of Tax Evasion in Share Transactions...

AA Cannot Tax Entire Disputed Purchase Transactions as Bogus: Gujarat HC Limits Income Tax Addition...

Calcutta HC Upholds ITAT Order Deleting Addition u/s 68 of Income Tax Act made on account of Bogus...

Arvindo Trust Scam Fallout: ITAT Dismisses Appeal Against Disallowance of Bogus Research Donation [Read order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench “SMC” has dismissed the appeal filed against the disallowance of a deduction claimed on a donation made to the Arvindo Institute of Applied...

GST Liability Remains even if Order is found to be Bogus: AAR [Read Order]

In a recent ruling, the Gujarat Authority for Advance Ruling (AAR) has held that the liability to pay Goods and Services Tax (GST) remains intact even if the underlying order for goods is later found...

Purchase and Sale of Shares Transactions cannot be considered bogus when Documentary Evidence Genuinely Established : ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently ruled that purchase and sale of shares transactions could not be considered bogus when documentary evidence genuinely...

₹114.15 Cr GST Evasion through Bogus ITC: CGST Raipur cracks down on 13 Fake Firms

Recently, the Central Goods and Services Tax Department, Raipur has dismantled a network of 13 fraudulent companies dedicated to producing fake invoices and claiming Input Tax Credit ( ITC ). This...

Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while directing to restrict the addition to the extent of 0.05% of gross total, observed that cash deposited in the name of various...

Documentary Evidences Furnished by Assessee to Claim Loss Suffered not held to be Bogus/False by AO during Assessment or Penalty Proceedings : ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that the documentary evidences have not been held as false either by the AO during the assessment proceeding or during penalty...

Hoodwinking Car Buyers with Inflated Insurance Expenses to Enriches Dealers and Agents by Bogus Claims to Defruad Exchequer : CESTAT Bench Delivers Different Opinions [Read Order]

The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) bench delivered different opinions regarding the issue of car buyers with inflated insurance expenses to enrich...