Search: capital gains

2 results for “capital gains”+ Bogus/Accommodation Entryclear

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Section 1489 Section 1476 Section 682 Bogus/Accommodation Entry2 Bogus Purchases2 Reassessment2 Reopening of Assessment2 Addition to Income2 Survey u/s 133A2

MERTA OIL MILLS COMPANY PVT. LTD.,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is allowed

ITA 516/JPR/2016[2007-08]Status: DisposedITAT Jaipur10 May 2018AY 2007-08

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Seema Meena (JCIT)

Section 147Section 148Section 68

entry taken by paying cash. Thereafter on the basis of the aforesaid information, a notice under section 148 was issued by the AO to the assessee, which was allegedly the beneficiary of the bogus claim of long term capital gain shown on sale/purchase of shares. Accordingly, reassessment was completed. On these facts, it was held that ITA 516/JP/2016_

DAMODAR OIL MILLS COMPANY PVT. LTD.,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is allowed