Wednesday, 20 November 2013

Assessee couldn’t be penalized if share broker couldn’t furnish docs in support of cap. gains earned

IT : Where assessee sold shares in ordinary course through stock exchange and received sale consideration by way of demand draft, in such circumstances merely because share broker could not file any evidence in support of said transaction because same was already seized by Department, it could not be a basis of making addition under section 68 in respect of capital gain arising from sale of said shares


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