ITAT deletes addition for alleged Bogus LTCG on Penny Stock

Shri Sanjay Singal Vs DCIT (ITAT Chandigarh) Addition of Rs. 61.86 Crore in 9 Appeals on Account of Bogus Long Term Capital Gain U/S 10(38) Claimed Deleted on Facts of Alleged Penny Scrip of PIL (Praneta Industries Ltd) and Revenue Rule 29 Application Containing Fir Filed by ED Against Companies of Bhushan Group & Statement of Promoters Before Enforcement Agencies Rejected By Tribunal. FULL TEXT OF THE ORDER OF ITAT CHANDIGARH PER BENCH: This is a bunch of nine appeals filed by four assessees against common order of the ld.CIT(A)-3, Gurgaon dated 31.3.2018. 2. It is pertinent to note that...