https://www.taxtmi.com/caselaws?id=446110 The HC dismissed the Revenue's appeal as not maintainable. The case involved exemption under Section 10(38) regarding LTCG/STCL on penny stocks. ITAT had dismissed Revenue's original appeal due to low tax effect below Rs. 50 lakhs per CBDT circulars. When Revenue filed a miscellaneous application after subsequent CBDT circulars, ITAT rejected it. HC held that orders passed under Section 254(2) in miscellaneous applications are not appealable under Section 260A before HC. The proper remedy against such orders is through writ petition under Article 226. HC found no substantial question of law arising from ITAT's decision. en-us Wed, 11 Oct 2023 00:00:00 +0530 Wed, 18 Feb 2026 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446110 The HC dismissed the Revenue's appeal as not maintainable. The case involved exemption under Section 10(38) regarding LTCG/STCL on penny stocks. ITAT had dismissed Revenue's original appeal due to low tax effect below Rs. 50 lakhs per CBDT circulars. When Revenue filed a miscellaneous application after subsequent CBDT circulars, ITAT rejected it. HC held that orders passed under Section 254(2) in miscellaneous applications are not appealable under Section 260A before HC. The proper remedy against such orders is through writ petition under Article 226. HC found no substantial question of law arising from ITAT's decision. Case-Laws Income Tax Wed, 11 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446110