Deletion of Addition Linked to Alleged Bogus Penny Stock Company’s LTCG Claim: MP HC dismisses Appeal of Income Tax Dept [Read Order]

The addition made under Section 68 of the Income Tax Act, 1961 by treating Long Term Capital Gain (LTCG) as bogus was unjustified and should be deleted.
By Aiswarya Krishnadas - On June 13, 2024 8:47 am - 2 mins read
madhya pradesh high court dismissal - long term capital gains - deletion of addition of alleged bogus penny stock company - taxscan

The Madhya Pradesh High Court has dismissed the appeal of the Income Tax Department with regards to the deletion of an addition linked to an alleged bogus penny stock company’s long-term capital gains ( LTCG ) claim. This appeal was filed by the appellant under Section 260A of the Income Tax Act, 1961 being aggrieved…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
Ā  ā‚¹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader