Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Page of 4828
Press 'Enter' after typing page number.
1221 to 1240 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Genuine share trading transactions executed through a registered broker on the stock exchange, reflected in DEMAT and trading records, and settled through banking channels were held to support allowability of the resulting business loss. The Tribunal held that the loss could not be disallowed merely because the Revenue considered the trades commercially imprudent or compared them with book value, in the absence of material showing artificial loss creation, sham trades, or price manipulation. It further held that SEBI proceedings against company promoters and penny-stock rulings on bogus exempt gains were inapplicable where the assessee's own transactions were genuine trading transactions, and the addition was deleted.
Genuine share trading transactions executed through a registered broker on the stock exchange, reflected in DEMAT and trading records, and settled through banking channels were held to support allowability of the resulting business loss. The Tribunal held that the loss could not be disallowed merely because the Revenue considered the trades commercially imprudent or compared them with book value, in the absence of material showing artificial loss creation, sham trades, or price manipulation. It further held that SEBI proceedings against company promoters and penny-stock rulings on bogus exempt gains were inapplicable where the assessee's own transactions were genuine trading transactions, and the addition was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
