LTCG on sale of shares under the Income Tax Act

Last updated: 09 July 2021
Quick Summary
This case involves an appeal by Sh. Vinay Kumar Dhingra (HUF) against the Income Tax Appellate Tribunal's decision. The assessee contested an addition of Rs. 41,00,925/- made by the Assessing Officer (AO) and upheld by the CIT(A) on the sale of Cressanda Solutions Ltd. shares, arguing that the Long Term Capital Gains (LTCG) were non-genuine. The assessee contended that sufficient supporting documents were provided and the addition was based on conjecture. An additional sum of Rs. 2,10,046/- for estimated brokerage was also disputed.

Court :
ITAT Delhi

Brief :
This appeal by the assessee is directed against order dated 23/08/2017 passed by the Learned Commissioner of Income Tax(Appeals)-17, New Delhi [in short ‘the Ld. CIT(A)’] for assessment year 2014-15 raising following grounds:

Citation :
ITA No.6388/Del./2017

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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