https://www.taxtmi.com/highlights?id=64100 Bogus LTCG - genuine v/s sham transaction - burden of proof - penny stock purchases - colourable devices adopted in the process or not? - The assessee cannot take shelter under the opinion given by the experts as it is not the expert who has indulged in the transaction but it is the assessee. - the Tribunal committed a serious error in setting aside the orders of the CIT(A) who had affirmed the orders of the Assessing Officer and equally the Tribunal committed a serious error both on law and fact in interfering with the assumption of jurisdiction by the Commissioner under Section 263 - HC en-us Thu, 16 Jun 2022 12:36:31 +0530 Thu, 16 Jun 2022 12:36:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64100 Bogus LTCG - genuine v/s sham transaction - burden of proof - penny stock purchases - colourable devices adopted in the process or not? - The assessee cannot take shelter under the opinion given by the experts as it is not the expert who has indulged in the transaction but it is the assessee. - the Tribunal committed a serious error in setting aside the orders of the CIT(A) who had affirmed the orders of the Assessing Officer and equally the Tribunal committed a serious error both on law and fact in interfering with the assumption of jurisdiction by the Commissioner under Section 263 - HC Highlights Income Tax Thu, 16 Jun 2022 12:36:31 +0530 https://www.taxtmi.com/highlights?id=64100