INCOME TAX LAWS
Here are some important direct tax case laws which were passed recently - It may be helpful in proceeding of Appeal before Supreme Court, High Court, Income Tax Appellate Tribunal (ITAT), and CIT (A). Also helpfully for Assessment & Reassessment cases. 1. Capital Gain - Bogus capital gains from penny stocks: If the holding of shares is D-mat account cannot be disputed then the transaction cannot be held as bogus. The AO has also not disputed the sale of shares from the D-mat account of the assessee and the sale consideration was directly credited to the bank account of the assessee. Once the assessee produced al...