Tag: penny stock
Even admission of assessee without corroborative evidence cannot be made basis for addition – High Court In a recent judgment, the Hon’ble Rajasthan High Court has held that the admission of the assessee in absence of any corroborative evidence to strengthen the case of the Revenue cannot be …
Addition for bogus capital gain in penny stock company deleted as shares were purchased and sold before order of SEBI and investigation report ABCAUS Case Law Citation:ABCAUS 3814 (2023) (11) ITAT Important Case Laws relied upon by parties:Karuna Garg and Others In the instant case, the assessee had …
Addition for investment in penny stock company remitted to record how assessee involved in promoting company and how inflated shares of company ABCAUS Case Law Citation:ABCAUS 3224 (2020) (01) ITAT Important case law relied upon by the parties:Kanhaiyalal & Sons (HUF) v. ITO In the instant case, the …
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 RevenueCentral Board of Direct Taxes New Delhi, Dated: 16th September, 2019 OFFICE …
LTCG exemption denied for Penny stock set aside by ITAT as AO had placed reliance on documents not confronted to the assessee ABCAUS Case Law Citation: ABCAUS 3000 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Kothari Metals Vs. ITO Mr. Sunil H Ashar Vs. …
