HC upheld order of ITAT as bogus share transactions wasn't supported by any concrete material on record

INCOME TAX: Where AO rejected assessee's claim for set off loss in share trading transactions against business income by taking a view that transactions in securities were bogus, however, Tribunal set aside said assessment order on ground that doubts regarding genuineness of share transactions were not fortified by some concrete material on record, impugned order passed by Tribunal allowing assessee's claim was to be upheld

from www.taxmann.com Latest Case Laws https://ift.tt/2PFKsV6