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No additon u/s 68 if assessee failed to produce persons who...

No additon u/s 68 if assessee failed to produce persons who had applied as shareholders-  SC dismissed SLP IT: SLP dismissed against High Court ruling that...

Concealed consideration on sale of Agricultural Land is not Agricultural Income...

Agricultural Income ACIT vs. Mohinder Singh (ITAT Chandigarh) S. 2(1A)/ 68: An assessee who understates the consideration received for sale of agricultural land to avoid payment...

Even income taxable under section 68 eligible for exemption u/s 10(23C)(v)

section 68 Asstt. CIT v. Gurudatta Shikshan Sanstha in  section 68 Decision:    In assessee's favour. Exemption under section 10(23C)--Allowability-- Deemed income under section 68 Facts: Assessee trust claimed exemption under section...

Bogus LTCG from Penny stocks

Sanjay Bimalchand Jain vs. Pr CIT (Bombay High Court) GIST: Bogus LTCG from Penny stocks: The assessee has not tendered cogent evidence to explain how the...