Transactions are Not “Bogus” when Shares Traded on Stock Exchange after paying STT and Money Received through Banking Channels: Delhi HC [Read Order]

Transactions - Bogus Transaction - Shares - Shares Traded - Shares Traded on Stock Exchange - STT - Money Received - Banking Channels - Delhi Highcourt - taxscan

The Delhi High Court has recently set aside a notice issued to the assessee, M/s Rajat Finvest, in lieu of alleged unaccounted income in its books in the guise of bogus Long Term Capital Gains and held that the said transaction cannot be said to be “bogus” when the shares traded are on stock-exchange after…

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