Revision u/s 263 - Penny stock purchases - penny stock SOP ...

PCIT's Revision u/s 263 Flawed Due to Misapplication of SOP on Unlisted Penny Stock Purchases.

June 19, 2023

Case Laws Income Tax AT

Revision u/s 263 - Penny stock purchases - penny stock SOP guidelines have been issued by CBDT only in respect of listed scrips. - The scrip in question is not listed in any stock exchange - the SOP guidelines issued by CBDT cannot be made applicable for unlisted scrips. Hence the ld. PCIT had assumed revision jurisdiction on incorrect assumption of fact and incorrect application of CBDT guidelines. - AT

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Revision u/s 263 - Penny stock purchases - penny stock SOP ...

PCIT's Revision u/s 263 Flawed Due to Misapplication of SOP on Unlisted Penny Stock Purchases.

June 19, 2023

Case Laws Income Tax AT

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