Monetary limits for filing income tax appeal not to apply to bogus penny stocks cases of LTCG/STCL

Monetary limits for filing income tax appeal not to apply to bogus penny stocks transactions of Long Term Capital Gains (LTCG) /Short Term Capital Loss (STCL) 

F. No. 279/Misc./M-93/2018-ITJ(Pt.)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, Dated: 16th September, 2019


Subject : –Special Order of Board exempting cases involving bogus Long Term Capital Gains (LTCG)/Short Term Capital Loss (STCL) through penny stocks from monetary limits specified in any Circular issued under Section 268A of the Income-tax Act, 1961-reg

The undersigned is directed to refer to Circular No. 23 of 2019 dated 6th September, 2019 and to say that by virtue of powers of the Central Board of Direct Taxes u/s 268A of Income-tax Act, 1961, the monetary limits fixed for filing appeals before ITAT/HC and SLPs /appeals before Supreme Court shall not apply in case of assesses claiming bogus LTCG/STCL through penny stocks and appeals/SLPs in such cases shall be filed on merits.

(Abhishek Gautam)
CBDT, New Delhi.

Copy to:

1. The Chairman, Members and all other officers in CBDT of the rank of Under Secretary and above.

2. All Principal Chief Commissioners of Income-tax and Director Generals of Income-tax

3. ADG (PR, PP& OL), Mayur Bhawan, New Delhi for printing in the quarterly Tax Bulletin and for circulation as per usual mailing list.

4. The Comptroller and Auditor General of India.

5. ADG (Vigilance), Mayur Bh awan, New Delhi

6. The Joint Secretary & Legal Advisor, Ministry of Law & Justice , New Delhi

7. All Directorates  of Income-tax, New Delhi  and DGIT (NADT), Nagpur

8. ITCC (3 copies).

9. The ADG (System) -4, for uploading on the Department’s website

10. Data Base Cell for uploading on

11. for uploading on NJRS.

12. Guard File

CBDT, New Delhi.

Download Memorandum Click Here >>

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