https://www.taxtmi.com/highlights?id=70424 Revision u/s 263 - Penny stock purchases - penny stock SOP guidelines have been issued by CBDT only in respect of listed scrips. - The scrip in question is not listed in any stock exchange - the SOP guidelines issued by CBDT cannot be made applicable for unlisted scrips. Hence the ld. PCIT had assumed revision jurisdiction on incorrect assumption of fact and incorrect application of CBDT guidelines. - AT en-us Mon, 19 Jun 2023 10:16:10 +0530 Mon, 19 Jun 2023 10:16:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70424 Revision u/s 263 - Penny stock purchases - penny stock SOP guidelines have been issued by CBDT only in respect of listed scrips. - The scrip in question is not listed in any stock exchange - the SOP guidelines issued by CBDT cannot be made applicable for unlisted scrips. Hence the ld. PCIT had assumed revision jurisdiction on incorrect assumption of fact and incorrect application of CBDT guidelines. - AT Highlights Income Tax Mon, 19 Jun 2023 10:16:10 +0530 https://www.taxtmi.com/highlights?id=70424