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2021 (7) TMI 511 - AT - Income TaxBogus LTCG - Unexplained cash credit u/s 68 - penny stock purchases - during hearing, a clarification was sought by the bench as to the outcome of the investigations carried out by SEBI in the case of this scrip - HELD THAT:- The bench deem it fit to set-aside the findings of Ld. CIT(A) and restore the matter back to the file of Ld. CIT(A) for fresh adjudication after affording due opportunity of hearing to the assessee. CIT(A) is directed to reconsider the factual matrix in terms of the cited decision of the co-ordinate bench of this Tribunal as relied upon by Ld. AR as well as also consider the events arising out of orders passed by SEBI in case of this scrip. All the issues are kept open. The grounds thus raised stands allowed for statistical purposes.
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