https://www.taxtmi.com/caselaws?id=388160 The Tribunal upheld the Assessing Officer's decision regarding the addition made on account of Long Term Capital Gain (LTCG), deeming it manipulated and bogus due to circular transactions and lack of economic justification. The Tribunal also confirmed the addition of commission charged but reduced the rate from 5% to 2%. The claim for set-off of interest against professional fees was denied as the receipt was considered salary, not professional income. Overall, the Tribunal partly allowed the appeal, dismissing grounds related to LTCG and interest set-off while partially allowing the commission charge appeal. en-us Tue, 05 Nov 2019 00:00:00 +0530 Fri, 08 Nov 2019 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388160 The Tribunal upheld the Assessing Officer's decision regarding the addition made on account of Long Term Capital Gain (LTCG), deeming it manipulated and bogus due to circular transactions and lack of economic justification. The Tribunal also confirmed the addition of commission charged but reduced the rate from 5% to 2%. The claim for set-off of interest against professional fees was denied as the receipt was considered salary, not professional income. Overall, the Tribunal partly allowed the appeal, dismissing grounds related to LTCG and interest set-off while partially allowing the commission charge appeal. Case-Laws Income Tax Tue, 05 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388160