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2021 (7) TMI 49 - AT - Income TaxBogus LTCG - Addition u/s 68 - exemption u/s 10(38) denied - denial of LTCG computed on sale of shares, treating the same as penny stocks - HELD THAT:- Similar issue came up before the coordinate bench of this Tribunal (wherein both the Members are party) in the case of shri Tarun Kumar Goel and Shri Arun Kumar Goel [2021 (4) TMI 1014 - ITAT HYDERABAD] wherein the issue has been decided in favour of the assessee. Further, the Hon’ble Delhi High Court has decided similar issue in favour of the assessee in the case of Pr. CIT Vs. Smt. Krishna Devi [2021 (1) TMI 1008 - DELHI HIGH COURT] wherein held the lower tax authorities are not able to sustain the addition without any cogent material on record - we direct the AO to allow the assessee’s claim of exemption u/s 10(38) - Decided in favour of assessee.
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