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2023 (7) TMI 645 - AT - Income TaxEx-parte order of CIT(A) u/s 250 - Opportunity of being heard - HELD THAT:- CIT(A) has issued given several opportunities to the assessee but, however, the assessee has not availed those opportunities. CIT(A) has passed a detailed order on merits of the case and adjudicated the assessee’s grounds with a due consideration. Hence the order passed by CIT(A) is a detailed order on merits and not a summary-order. Being so, we do not find any merit in the claim of assessee that the CIT(A) has passed order without giving opportunities of hearing. Therefore, we are inclined to dismiss Ground No. 1 of assessee which is devoid of any merit. Bogus capital gain - assessee has earned capital gain from the transactions of shares of Turbotech Engineering Ltd., which falls within the category of a “Penny stock” as per the information available with the Income-tax Department - HELD THAT:- As already decided in Shri Abhishek Gupta [2022 (8) TMI 1333 - ITAT INDORE] wherein the identical issue of exempted capital gain from shares of Turbotech Engineering Ltd. the Bench has rejected the assessee’s claim of long-term capital gain and upheld the additions made by revenue. No material change which could suggest non-applicability of the decision in present appeal. Hence, we find no valid reason to deviate. Accordingly, we uphold the additions made by revenue-authorities - Decided against assessee.
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