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ITAT held 282 time Capital Gains from Penny Stocks as Bogus
Case Law Details
- Case Name
- Shri Sanat Kumar Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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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...
