https://www.taxtmi.com/highlights?id=75466 Addition u/s 68 - bogus LTCG - share capital and share premium were merely paper credit entries - receipt of accommodation entries in lieu of commission paid - The Tribunal found that the amounts received by BCPL were passed through various entities without actual business transactions, acting merely as accommodation entries. It was determined that these funds should not be treated as income of BCPL. Instead, only the commission income received for facilitating these transactions should be taxed. en-us Thu, 07 Mar 2024 09:18:33 +0530 Thu, 07 Mar 2024 09:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75466 Addition u/s 68 - bogus LTCG - share capital and share premium were merely paper credit entries - receipt of accommodation entries in lieu of commission paid - The Tribunal found that the amounts received by BCPL were passed through various entities without actual business transactions, acting merely as accommodation entries. It was determined that these funds should not be treated as income of BCPL. Instead, only the commission income received for facilitating these transactions should be taxed. Highlights Income Tax Thu, 07 Mar 2024 09:18:33 +0530 https://www.taxtmi.com/highlights?id=75466