Income Tax : Introduction: The assessee has been taking a common argument against the addition on account of penny stock. The said argument rev...
Income Tax : The provision for exemption of long term capital gains from shares requiring payment of securities transaction tax has been taken ...
Income Tax : It is a very well-known fact that High court only entertains question of law and Income tax Appellate Tribunal (ITAT) is the last ...
Income Tax : ITAT Mumbai rules that share transactions backed by DEMAT statements cannot be treated as bogus income without concrete proof....
Income Tax : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...
Income Tax : ITAT Kolkata invalidates reassessment in Pradip Kumar Jajodia HUF case, citing lack of tangible evidence for alleged bogus LTCG on...
Income Tax : ITAT deletes addition of Rs. 48.48 lakh for penny stock investment, ruling that no concrete evidence was presented by the Income T...
Income Tax : Calcutta High Court dismisses appeal in PCIT Vs Sawankumar T Jajoo, upholding ITAT's order on long-term capital gains from penny s...
Bombay HC dismisses appeal in CIT-13 Vs Shyam R. Pawar case, upholding Tribunal’s decision on share transaction dispute.
ITAT Mumbai upholds long-term capital gains legitimacy in Bhavna Lalit Jain’s appeal, reversing earlier AO additions and clarifying tax treatment.
ITAT Ahmedabad restores the case involving LTCG from penny stocks to CIT(A) for a fresh evaluation, emphasizing principles of natural justice and due process.
ITAT Mumbai rules that shares bought off-market and later sold on stock exchanges with proof of genuine transactions cannot be treated as unexplained income.
Read the detailed analysis of ITAT Calcutta decision in CIT vs. Lakshmangarh Estate & Trading Co Ltd regarding disallowance of capital losses on share transactions.
Explore the Calcutta High Court judgment in PCIT Vs Kaushalya Dealers Pvt Ltd under Income Tax Act 1961, focusing on Section 263 jurisdictional issues and assessment validity.
ITAT Jaipur rules that AO’s non-addition of bogus LTCG does not make the order automatically erroneous. Detailed analysis of Vipul Kumar Modi vs PCIT case.
Rajasthan HC dismisses Income Tax Dept’s appeal, upholds ITAT decision deleting additions on capital gain from share sale. Read the full judgment here.
MP High Court dismisses the Income Tax Dept’s appeal against Gopal Tayal, upholding ITAT’s decision on alleged bogus penny stock LTCG claim. Read full judgment.
Dive into the detailed analysis of the Calcutta High Court judgment in PCIT Vs Bina Gupta, addressing substantial questions of law regarding income tax implications on Long Term Capital Gain from penny stock sales.
