TMI Blog2022 (11) TMI 1454X X X X Extracts X X X X X X X X Extracts X X X X ..... of penny stock companies - ITAT deleted addition - HELD THAT:- Tribunal that the assessee s appeal had allowed following the decision of the Coordinate Bench of the learned Tribunal in the case of Ritin Lakhmani Ors. [ 2020 (11) TMI 768 - ITAT KOLKATA] and allowed the appeal filed by the assessee. The revenue had preferred the appeal against the said order before this court in [ 2022 (11) TMI 1177 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... undisclosed income in the garb of Long Term Capital Gain [LTGC] to claim exemption under section 10[38] of the Act ? ii] Whether the learned Tribunal has erred in fact and law while allowing the assessee s appeal of claim of exemption under section 10[38] without holding that the off line transaction of purchase and sale of shares of penny stock companies namely Unno Industries Ltd. was adventure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee. The revenue had preferred the appeal against the said order before this court in ITAT No.127/2022 which was dismissed by judgment dated 22.11.2022. The operative portion of the order reads as follows : In more or less identical circumstances in the case of Principal Commissioner of Income Tax, Durgapur Vs. M/s. Sinforte Pvt. Ltd. in ITAT No. 104/2019 dated 7.1.2022 the court had dismis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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