Transaction done through Bombay Stock Exchange on STT cannot be considered as Sham or Bogus Transaction: ITAT [Read Order]

Transaction done through Bombay stock exchange on Securities Transaction Tax (STT) cannot be considered as sham or bogus transaction, rules, ITAT
Income Tax - ITAT Delhi - Bombay Stock Exchange - Securities Transaction Tax - Sham transaction - taxscan

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Transaction done through Bombay stock exchange on Securities Transaction Tax ( STT ) cannot be considered as sham or bogus transaction The fact of the case was  the assessee  filing its income return electronically on October 17, 2016, reporting a loss…

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