https://www.taxtmi.com/caselaws?id=441526 The Tribunal dismissed the Revenue's appeal and the assessee's cross objection, affirming the Commissioner of Income Tax (Appeals)' decision to delete the addition under section 69B of the Income Tax Act. The Tribunal found insufficient evidence to support the claim that the company's shares were penny stocks, noting the assessee's legitimate investment activities and minimal loss incurred. The judgment was delivered on 07.08.2023. en-us Mon, 07 Aug 2023 00:00:00 +0530 Thu, 10 Aug 2023 07:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441526 The Tribunal dismissed the Revenue's appeal and the assessee's cross objection, affirming the Commissioner of Income Tax (Appeals)' decision to delete the addition under section 69B of the Income Tax Act. The Tribunal found insufficient evidence to support the claim that the company's shares were penny stocks, noting the assessee's legitimate investment activities and minimal loss incurred. The judgment was delivered on 07.08.2023. Case-Laws Income Tax Mon, 07 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441526