ITAT held 282 time Capital Gains from Penny Stocks as Bogus

Shri Sanat Kumar Vs ACIT (ITAT Delhi) Perusal of the assessment order framed by the AO apparently shows that a thorough investigation has been made by calling information u/s 133(6) of the Act from Bombay Stock Exchange as to whether company, namely, Cressanda Solution Ltd. whose shares have been purchased and sold by the assessee to claim the LTCG was suspended for trade within last three years. AO received specific reply from Bombay Stock Exchange that “as per record available with the exchange, trading in the securities of the company, Cressanda Solution Ltd. was suspended w.e.f. February...