https://www.taxtmi.com/caselaws?id=302062 The High Court affirmed the decision of the ITAT to dismiss the appeal concerning alleged bogus LTCG on penny stocks. The Court held that Circular No. 23 of 2019 and the Office Memorandum did not have retrospective effect and did not exempt cases disposed of before their issuance from monetary limits for appeal filing. Consequently, the Court upheld the ITAT's decision, stating that the appeal lacked merit and legality. en-us Mon, 22 Nov 2021 00:00:00 +0530 Mon, 02 May 2022 21:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302062 The High Court affirmed the decision of the ITAT to dismiss the appeal concerning alleged bogus LTCG on penny stocks. The Court held that Circular No. 23 of 2019 and the Office Memorandum did not have retrospective effect and did not exempt cases disposed of before their issuance from monetary limits for appeal filing. Consequently, the Court upheld the ITAT's decision, stating that the appeal lacked merit and legality. Case-Laws Income Tax Mon, 22 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302062