AO can’t taxed sum received from sale of shares u/s 68 if he duly accepted purchases as genuine transactions: ITAT

INCOME TAX : Where AO accepted purchase of shares by assessee as genuine transaction, when sames shares were subsequently sold and sale proceeds were duly credited by assessee in profit and loss account, AO could not make addition under section 68 on ground that assessee introduced its own income in form of proceeds from sale of sharesINCOME TAX : Where AO accepted purchase of shares by assessee as genuine transaction, when sames shares were subsequently sold and sale proceeds were duly credited by assessee in profit and loss account, AO could not make addition under section 68 on ground that assessee introduced its own income in form of proceeds from sale of shareswww.taxmann.com Latest Case LawsRead More

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