LONG TERM CAPITAL GAIN

[SUNIL GANERIWAL]

RECENT CASE LAWS ON GENUINEITY OF LONG TERM CAPITAL GAIN

[CAGOPALJI AGRAWAL]

Please clarify what is your issue?

[Surender Gupta]

What do you want?

[DHARMENDRA SINGH]

Please tell us about your issue

[DEV KUMAR KOTHARI]

Bogus or genuine are matters of facts. Experience shows that besides being genuine, the transaction must also appear to be genuine supported by usual/ normal and customary documents. lack of usual documents and existence of unusual or superflous documents both can go against even a genuine transaction. Case law may not help much becasue each case can be different on facts.- rely on usual, customary documents.

AI Summary

Genuineness of long term capital gains hinges on customary documentary support to establish transaction authenticity. Genuineness of long term capital gain transactions is a factual assessment that depends on whether the transaction appears genuine and is supported by usual, normal and customary documentary evidence; absence of customary documents or the presence of unusual or superfluous records can undermine even a genuine transaction, and reliance on case law is limited because outcomes depend on case specific facts.