Penny Stock – On Oct 24, 2018 KOLKATA TRIBUNAL held that Addition made u/s 68 solely on the basis of general report of the investigation wing, Kolkata and accordingly the action of the ld AO was based purely on surmises and suspicions. There is no finding by the ld AO that the transactions were between related parties. Further the concerned scrip was not suspended by SEBI either at the time of transaction of allotment of shares to the assessee or sale of shares by the assessee.
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414 total views Penny Stock – On Oct 24, 2018 KOLKATA TRIBUNAL held that Addition made u/s 68 solely on the basis of general report of the investigation wing, Kolkata and accordingly the action of the ld AO was based purely…
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