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ITAT Pune Allows LTCG Exemption After SEBI Revokes Penny Stock Findings
Case Law Details
- Case Name
- Dineshkumar Ramchandra Tulsyan (HUF) Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
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Dineshkumar Ramchandra Tulsyan (HUF) Vs ITO (ITAT Pune)
Survey Admission Retracted Next Day – SEBI Clean Chit Sinks Revenue Case: LTCG on Shares Restored
Pune Tribunal considered additions made by AO by treating LTCG from sale of shares of Mishka Finance & Trading Ltd as bogus & denying exemption u/s 10(38). AO relied on survey statement recorded at 3.30 AM on 02.09.2015, Investigation Wing Kolkata reports on penny-stock accommodation entries, statements of operators, SEBI’s 2015 interim order & alleged abnormal price rise. AO assessed the sale consideration as unexplained ...
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