Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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The ITAT considered a case involving denial of exemption u/s 10(38) for alleged bogus LTCG. The assessee invested in shares of a company deemed unreliable due to manipulation by brokers for undue benefits. The ITAT emphasized that profit magnitude does not establish the genuineness of an investee company. Despite the assessee's small profit, it was held that the transaction's genuineness cannot be determined solely by profit amount. The ITAT upheld the decision of the CIT (Appeals), dismissing the assessee's appeal based on the lack of error in the earlier order.
The ITAT considered a case involving denial of exemption u/s 10(38) for alleged bogus LTCG. The assessee invested in shares of a company deemed unreliable due to manipulation by brokers for undue benefits. The ITAT emphasized that profit magnitude does not establish the genuineness of an investee company. Despite the assessee's small profit, it was held that the transaction's genuineness cannot be determined solely by profit amount. The ITAT upheld the decision of the CIT (Appeals), dismissing the assessee's appeal based on the lack of error in the earlier order.
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