https://www.taxtmi.com/caselaws?id=292311 The ITAT set aside the orders of the lower authorities and remitted the case back to the AO for a fresh examination regarding the exemption claim under Section 10(38) of the Income-tax Act. The Tribunal emphasized the need for the AO to provide the appellant with the investigation report and any relevant materials, allowing the appellant a reasonable opportunity to address allegations related to the sale of shares in a penny stock company. The Tribunal's decision was based on ensuring a thorough re-examination with complete information, thus allowing the appeal for statistical purposes. en-us Wed, 04 Sep 2019 00:00:00 +0530 Wed, 13 Nov 2024 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292311 The ITAT set aside the orders of the lower authorities and remitted the case back to the AO for a fresh examination regarding the exemption claim under Section 10(38) of the Income-tax Act. The Tribunal emphasized the need for the AO to provide the appellant with the investigation report and any relevant materials, allowing the appellant a reasonable opportunity to address allegations related to the sale of shares in a penny stock company. The Tribunal's decision was based on ensuring a thorough re-examination with complete information, thus allowing the appeal for statistical purposes. Case-Laws Income Tax Wed, 04 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292311