CBDT Circular doesn’t Apply to Non-Penny Stock Share Transactions

DCIT Vs Krishan Kumar (ITAT Delhi)

Introduction: The Income Tax Appellate Tribunal (ITAT) Delhi recently addressed an appeal filed by the Department against an order from the Commissioner of Income-Tax (Appeals) concerning a share transaction. The case pertains to the assessment year 2011-12.

Detailed Analysis: The Department had contested the decision made by the Commissioner of Income-Tax (Appeals) in favor of the taxpayer, Mr. Krishan K

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