https://www.taxtmi.com/highlights?id=62526 Reopening of assessment u/s 147 - Addition u/s 68 - bogus LTCG - bogus share transaction - It is immaterial that order of the SEBI came in 2018 because the SEBI has analysed the entire trading of shares from year 2013 and found that not only the prices of the scrips of the said company were rigged but also were involved in fraudulent activities, which led to completely debarred its trading in the stock exchange. This order of SEBI clearly implicates, the entire transaction of purchase and sale of shares and goes to prove that the transaction was not genuine and corroborates the findings of the enquiry conducted by the Income Tax Department. - the appeal of the assessee dismissed. - AT en-us Mon, 21 Mar 2022 12:26:41 +0530 Mon, 21 Mar 2022 12:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62526 Reopening of assessment u/s 147 - Addition u/s 68 - bogus LTCG - bogus share transaction - It is immaterial that order of the SEBI came in 2018 because the SEBI has analysed the entire trading of shares from year 2013 and found that not only the prices of the scrips of the said company were rigged but also were involved in fraudulent activities, which led to completely debarred its trading in the stock exchange. This order of SEBI clearly implicates, the entire transaction of purchase and sale of shares and goes to prove that the transaction was not genuine and corroborates the findings of the enquiry conducted by the Income Tax Department. - the appeal of the assessee dismissed. - AT Highlights Income Tax Mon, 21 Mar 2022 12:26:41 +0530 https://www.taxtmi.com/highlights?id=62526