ITAT deletes addition for transaction shown in Account of Assessee mistakenly by broker

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, a

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