https://www.taxtmi.com/caselaws?id=430300 The Tribunal set aside the order passed by the Principal Commissioner of Income-Tax under Section 263, as it found the assessment made by the Assessing Officer to be correct and not prejudicial to the Revenue's interest. The Tribunal concluded that the transactions involving shares of VAS Infrastructure Ltd. were genuine and not penny stock trading, as evidenced by the documents provided by the assessee. Consequently, the appeal of the assessee was allowed. en-us Fri, 11 Nov 2022 00:00:00 +0530 Wed, 16 Nov 2022 08:59:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430300 The Tribunal set aside the order passed by the Principal Commissioner of Income-Tax under Section 263, as it found the assessment made by the Assessing Officer to be correct and not prejudicial to the Revenue's interest. The Tribunal concluded that the transactions involving shares of VAS Infrastructure Ltd. were genuine and not penny stock trading, as evidenced by the documents provided by the assessee. Consequently, the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 11 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430300