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Penny stock case laws in favour of assessee

Web11. jan 2024 · – section 10 (38) & 68 – penny stock – addition on account of profit arising from sale of shares, alleged as penny stock cannot be made under section 68 – sufficient …

Penny Stock- Delhi ITAT in favour of Assessee - The Tax Talk

Web23. feb 1993 · Section 147 of the Income Tax, 1961, Act [Act] (2) The learned Commissioner of Income Tax (Appeals) ICIT (A)] erred in confirming the addition Rs. 3,20,175/- under Section 69A of the Act.... Consequently, ground no. 1 is dismissed as “not pressed”.5. In grounds no. 2 and 3, assessee has challenged the addition under section 69A of the Act.6. WebPenny Stock refers stocks of public companies that trade at a very low price, typically less than $5 per share and are highly illiquid. Usually, these stocks belong to small and newbie … chocolate fountain chocolate tesco https://swrenovators.com

RECENT IMPORTANT DECISIONS AND ISSUES IN PENNY STOCKS …

Web10. mar 2024 · In some cases, penny stocks may provide a method to gain access to larger marketplace listing. With a lower price, penny stocks allow for significant upside in share … Web10. dec 2024 · The AOs must investigate the exit operators and the syncronised trades, while booking the profit. Huge sum of money required to buy these penny stocks can only … Web13. dec 2024 · Gist of Penny stock judgement in favor of Assessee There are plenty of decision in favor of Assessee on penny stock matter. Few of them are as under: i. Mumbai … chocolate fountain for hire

What Are Penny Stocks? - Investopedia

Category:Case laws - bogus purchases, Income Tax

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Penny stock case laws in favour of assessee

Judgments in Favour of Revenue in Penny Stock Cases

Web1. mar 2024 · The AR further submitted that the assessee is a genuine investor in shares and securities, purchased the shares by making payment through proper banking … Web4. júl 2024 · Undisputedly,the assessee has maintained complete books of accounts along with day to day and kilogram to kilogram stock register. These were produced before the A 0 by the assessee. The assessee also submitted stock tally sheet along with the audited accounts. The audit report of the assessee also bears ample testimony in favour of the …

Penny stock case laws in favour of assessee

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Web18. aug 2024 · Therefore, the Assessing Officer estimated 10% of the bogus purchase as the undisclosed income of the Assessee. On Appeal, the Commissioner of Income Tax … WebHere Project write ON GST in Himachal Pradesh at Hamirpur Distt.

Web17. mar 2024 · The claim of exemption of long-term capital gains on sale of penny stocks under section 10 (38) of the Act, is one of the most common and regular scrutiny criteria … Web17. apr 2024 · In this case, it was held that merely because the assessee could not produce the broker through whom the shares were sold, the same did not affect the genuineness …

WebA Hong Kong government-appointed panel of inquiry into a recent fiasco over a controversial proposal to delist low-priced companies from the stock exchange found Tuesday that no … Web12. dec 2024 · Brief facts of the case: The assessee has filed his/her return showing income from salary of Rs.84,000/- & income from other sources of Rs.6,12,677/-. However, in its …

Web2. aug 2024 · Recent Delhi Tribunal ruling in case of NDTV [TS-283-ITAT-2024 (DEL)] is worth a mention here which upheld Sec. 69A addition of Rs. 642.54 crore ($150 millions) …

Web14. mar 2024 · The Mumbai Bench of ITAT, consisting of members Rahul Chaudhary (Judicial Member) and Shamim Yahya (Accountant Member), has ruled that long term … chocolate fountain hire canberraWebBrief facts are that the assessee disclosed Rs. 16,20,156/- long term capital gain on penny stock transaction under Income...received sale consideration of Rs. 16,50,829/- from sale … gravy seasoningWeb± Recent decisions on penny stock ± In favour of the revenue . Recent decisions of the Tribunal ... jurisdiction over case of assessee . 5HFHQWGHFLVLRQVRIWKH7ULEXQDO« Contd 7) Hitesh Shah & Others ± ITA No 4756/MUM/2016 and ... An Act to consolidate … chocolate fountain hire johannesburg