Penny Stock Addition Remanded Due to Ownership Dispute

Raju Bababhai Desai Vs ITO (ITAT Ahmedabad)

Penny Stock & Accommodation Entry Addition of ₹9.16 Crore Remanded — ITAT Directs Verification Whether Income Already Taxed in Entry Operator’s Hands

Ahmedabad Bench of the ITAT condoned the delay and dealt with an appeal arising from an ex-parte assessment under section 144, wherein a massive addition of ₹9.16 crore was made under section 68 on account of alleged penny stock transactions and accommodation en

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