ITAT deletes ₹48.48 Lakh Penny Stock Investment Addition for lack of evidence

Mohamedistiyak Mohamediqbal Patel Vs ITO (ITAT Surat)

In the case of Mohamedistiyak Mohamediqbal Patel Vs ITO (ITAT Surat), the Income Tax Appellate Tribunal (ITAT) has ruled in favor of the assessee, deleting an addition of Rs. 48.48 lakh for penny stock investment. The assessee had been accused of making unexplained investmen

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