On finding that the assessee has issued share application money and subsequently allotted shares which shows that the transactions are genuine and there is no material brought on record by tax.
The Mumbai ITAT recently clarified that mere deposit of employee s contribution before due date of filing return of income as per Section 139 of Income tax Act, will not make it eligible for.
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the assessee was an unsuspecting investor who transacted in a penny stock with a view to earning a quick profit, and since his.
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has imposed a cost of Rs. 51,000 for the 33-day delay in filing the appeal.The bench of Narendra Kumar Choudhry (Judicial Member) and Gagan.