Income Tax Evasion: Calcutta HC upholds 90 Assessment Orders relating to Penny Stock Scam worth Rs. 38,000 [Read Order]

Income Tax Evasion - Calcutta HC - Assessment Orders - Penny Stock Scam - taxscan

In a significant ruling relating to the penny stock probe, a division bench of the Calcutta High Court has upheld the additions made by the income tax department under section 68 of the Income Tax Act. A bench of Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya was considering appeal filed by taxpayers that had allegedly…

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