Case Law Details
Case Name : Shobhit Gupta Vs ACIT (ITAT Delhi)
Appeal Number : ITA No. 2626 & 2627/Del/2022
Date of Judgement/Order : 13/11/2024
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Delhi
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Shobhit Gupta Vs ACIT (ITAT Delhi)
ITAT Delhi held that merely because particular scrip is identified as penny stock it doesn’t mean all the transactions carried out in that scrip would be bogus. Addition, u/s. 68 deleted in absence of allegation of assessee being involved in any price rigging or price increase.
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