Re-computation of Capital Gains on Sale of Shares of Subsidiary Company by Revising Genuine Sale Consideration : ITAT dismisses Appeal
The Mumbai bench of Income Tax Appellate Tribunal (ITAT), while dismissing the appeal filed by the revenue held that re computation of capital gains...
![Loss from Sale of Shares and Mutual Funds on which STT paid cant be set off against LTCG arising out as per S.70(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-of-Shares-Mutual-Funds-STT-LTCG-ITAT-taxscan.jpg "Loss from Sale of Shares and Mutual Funds on which STT paid cant be set off against LTCG arising out as per S.70(3): ITAT [Read Order]")
![Long Term Capital Gain from Sale of Shares of Bogus Company: ITAT upholds Disallowance u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Long-Term-Capital-Gain-sale-of-Shares-bogus-Company-ITAT-Disallowance-Taxscan.jpg "Long Term Capital Gain from Sale of Shares of Bogus Company: ITAT upholds Disallowance u/s 68 [Read Order]")
![ITAT denies Exemption of LTCG earned on Sale of Shares, Sale proceeds added to Assessee’s Income along with estimated Commission [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/ITAT-LTCG-Taxscan.jpeg "ITAT denies Exemption of LTCG earned on Sale of Shares, Sale proceeds added to Assessee’s Income along with estimated Commission [Read Order]")
![Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/09/ITAT-LTCL-sale-of-shares-LTCG-sale-of-property-Taxscan.jpg "Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]")
No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]
Madras High Court held that no review on the original assessment order is permissible in the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961. The respondent...
![No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/original-assessment-reassessment-proceedings-Madras-High-Court-Taxscan.jpg "No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]")
Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad bench has held that the frequency, magnitude of the transaction in a systematic manner cannot be the criteria to hold that the assessee is engaged...
![Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]")
Gain from Sale is Business Income If Assessee followed Stock Market Trend: Bombay HC rejects House Wife’s Plea [Read Judgment]
While rejecting a plea of a House wife who claimed that the income earned from the sale of shares is capital gain, the Bombay High Court held that such income is assessable as business income since...
![Gain from Sale is Business Income If Assessee followed Stock Market Trend: Bombay HC rejects House Wife’s Plea [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Gain from Sale is Business Income If Assessee followed Stock Market Trend: Bombay HC rejects House Wife’s Plea [Read Judgment]")
Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale of Property can’t be treated as Sham Transaction: ITAT [Read Order]
Recently, a two-member bench of Income Tax Appellate Tribunal ( ITAT ) at Mumbai in Madhu Sarda vs. Income Tax Officer held that merely because the assessee has claimed set off of loss on account...
![Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale of Property can’t be treated as Sham Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Capital-Gain-Sale-of-SHares-Taxscan.jpg "Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale of Property can’t be treated as Sham Transaction: ITAT [Read Order]")
Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]
The Indore bench of ITAT in the case of Omprakash Phatandas Panjwani vs. ACIT has held that the receipt from sale of shares held in DMAT account through recognized stock exchange which is verifiable...
![Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Stock-Exchange-Taxscan.jpg "Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]")
![Profit on Sale of Shares is Taxable under the Head Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Capital-Gain-Taxscan.jpg "Profit on Sale of Shares is Taxable under the Head Capital Gain: ITAT [Read Order]")
Purchase and Sale of Shares through Stock Exchange can’t be treated as ‘Bogus’ when the Same was Evident through Broker’s Note: ITAT [Read Order]
While allowing the appeal filed by the assessee Hyderabad bench of Income Tax Appellate Tribunal (ITAT) recently held that purchase and sale through stock exchange cannot be treated as bogus when the...
![Purchase and Sale of Shares through Stock Exchange can’t be treated as ‘Bogus’ when the Same was Evident through Broker’s Note: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Stock-Exchange-Taxscan.jpg "Purchase and Sale of Shares through Stock Exchange can’t be treated as ‘Bogus’ when the Same was Evident through Broker’s Note: ITAT [Read Order]")