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ITAT deletes addition for transaction shown in Account of Assessee mistakenly by broker
Case Law Details
- Case Name
- Jyoti Swaroop Kashuka (HUF) Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Kolkata
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Jyoti Swaroop Kashuka (HUF) Vs ITO (ITAT Kolkata)
Brief facts of the case are that assessee is an HUF who filed its return of income on 28.08.2015 reporting a total income of ₹ 2,61,690/. In the course of assessment, ld. AO noted that assessee has sold 8000 shares of one scrip GCM Securities Ltd for sale consideration of ₹ 6,86,400/- on 09.12.2014. Since name of the company of which the shares were sold was appearing in the report of the Directorate of Investigation of the Department, which was marked as a penny stock, and name of the assessee was also appearing in the lis...
