The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that mere reliance on investigation reports and abnormal price rise, without cogent evidence linking the assessee to any manipulation, cannot justify treating genuine stock exchange transactions as sham. The bench of Vimal Kumar (Judicial Member) and S. Rifaur Rahman (Accountant Member) has observed…
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HomeDirect TaxMere Investigation Reports, Abnormal Price Rise Can’t Render Genuine Stock Exchange Transactions...
Mere Investigation Reports, Abnormal Price Rise Can’t Render Genuine Stock Exchange Transactions As Sham: ITAT
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.
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