https://www.taxtmi.com/caselaws?id=405183 The Tribunal allowed the appeals filed by the assessee, determining that the transactions involving shares of Landmark Leisure Ltd. were genuine and not speculative. Consequently, the loss incurred was deemed allowable. Furthermore, the Tribunal quashed the penalty imposed under section 271(1)(c) as the quantum addition was deleted, rendering the penalty order ineffective. en-us Mon, 08 Mar 2021 00:00:00 +0530 Sat, 13 Mar 2021 08:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405183 The Tribunal allowed the appeals filed by the assessee, determining that the transactions involving shares of Landmark Leisure Ltd. were genuine and not speculative. Consequently, the loss incurred was deemed allowable. Furthermore, the Tribunal quashed the penalty imposed under section 271(1)(c) as the quantum addition was deleted, rendering the penalty order ineffective. Case-Laws Income Tax Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405183