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...
ITAT Chennai upholds addition on LTCG arising from purchase and sale of shares due to failure to produce documents. Read the full analysis of the case.
Read the detailed analysis of ITAT Delhi’s order regarding capital gains earned from the sale of CCL International shares. ITAT deemed the gains genuine, deleting the addition under section 69 of the Income Tax Act.
Shanno Mohammed Yusuf Warsi Vs ITO (ITAT Mumbai) The case of Shanno Mohammed Yusuf Warsi Vs Income Tax Officer (ITO) at the Income Tax Appellate Tribunal (ITAT) Mumbai revolves around the taxation of long-term capital gains (LTCG) from penny stock transactions, specifically involving shares of Essar (India) Ltd. The central question is whether the assessee […]
Chirag Tejprakash Dangi successfully challenged the Income Tax Office’s (ITO) addition of Rs. 1.51 crore related to sale of alleged penny stocks. Learn why the assessee prevailed.
Bombay High Court affirms ITAT’s deletion of LTCG addition on penny stock in PCIT Vs Ziauddin A Siddique case. Detailed analysis of the judgment provided.
Read about the ITAT Ahmedabad ruling in Bharatkumar Gangaram Patel vs. ITO case, where the addition for unexplained LTCG on shares was deleted due to failure to establish bogus sale.
Delve into the detailed analysis of the ITAT Mumbai ruling in ACIT Vs Priyanka Ankit Miglani case regarding long-term capital gains from share sales and the application of Section 10(38) of the Income Tax Act.
Delhi ITAT’s landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights.
Kolkata ITAT upholds LTCG disallowance in Brajesh Narnolia Vs ITO, emphasizing that a company’s genuineness isn’t judged by the magnitude of profit.
Gujarat High Court rules in favor of taxpayer in PCIT-1 vs Parasben Kochar, dismissing appeal on LTCG tax exemption under Section 10(38).
