Taxpayer Wins: Section 68 Addition Deleted for Alleged Bogus Capital Gains with Shell Companies; Shares Sold at Market Value.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 68 - bogus LTCG - Transaction with shell companies - No adverse inference can be drawn against the assessee on basis of doubtful credentials of SVPL as the assessee has parted away with a valuable asset i.e. shares of a company having prime immovable property at Hailey Road Delhi and in lieu thereof, the assessee had received sale consideration at market price/fair market value. - CIT(A) rightly deleted the additions - AT....