2023 (6) TMI 1113

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....n behalf of the Respondent. ORDER Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 21.05.2019 of the Commissioner of Income Tax(Appeals)-3, Kolkata (hereinafter referred to as the 'CIT(A)') passed u/s 250 of the Income Tax Act (hereinafter referred to as the 'Act'). 2. This appeal was listed on board on 03.12.2019 and there....

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...., no one has put in appearance, therefore, it can be well assumed that the assessee is no more interested in prosecuting the present appeal. Therefore, we proceed to decide the appeal on merits after hearing the ld. DR. 3. With the assistance of the ld. DR, we have gone through the record and note that the issue involved in this appeal is relating to the addition made by the Assessing Officer o....

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....booked in the penny stock companies treating the said transaction as bogus. The said decision has been further followed in the various decisions of the Tribunal. In the case in hand before us, the company in which the assessee traded was also held to be a penny stock company. The Assessing Officer has noted that the above scrip of ASHIKACR in which the assessee traded appeared in the list of 84 sc....