The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld an income tax addition by holding that the share transaction was used as a colourable device to avoid capital gain tax liability. The Assessee sold a property for a total consideration of Rs. 9.60 crores. On such sale, capital gain of Rs. 3,48,39,960/- […]
The post ITAT uphold Addition since Share Transaction was used as a Colourable device to avoid Tax Liability appeared first on Taxscan | Simplifying Tax Laws.
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