Daily digest for Gupta Chandan & Associates, on June 20, 2022

posted: "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 grou" Gupta Chandan & Associates AO can't taxed sum received from sale of shares u/s 68 if he duly accepted purchases as genuine transactions: ITAT Jun 20 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 […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/ao-cant-taxed-sum-received-from-sale-of-shares-u-s-68-if-he-duly-accepted-purchases-as-genuine-transactions-itat/ Powered by Jetpack

posted: "INCOME TAX : Where assessee sold a property below circle rate cost of property, Assessing Officer had jurisdiction to examine in detail transactionINCOME TAX : Where assessee sold a property below circle rate cost of property, Assessing Officer had jurisd" Gupta Chandan & Associates AO has jurisdiction to examine transaction if valuation officer determined FMV of property higher than disclosed by Co. Jun 20 INCOME TAX : Where assessee sold a property below circle rate cost of property, Assessing Officer had jurisdiction to examine in detail transactionINCOME TAX : Where assessee sold a property below circle rate cost of property, Assessing Officer had jurisdiction to examine in detail transactionwww.taxmann.com Latest Case LawsRead More Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/ao-has-jurisdiction-to-examine-transaction-if-valuation-officer-determined-fmv-of-property-higher-than-disclosed-by-co/ Powered by Jetpack