Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
← back
Informative
Bogus LTCG Addition of Rs. 1.49 Crore on Penny Stock: ITAT Upholds CIT(A) Decision
Income TaxStock Market
The ITAT upheld the CIT(A)'s decision on a bogus long-term capital gains (LTCG) addition of Rs. crore on penny stocks. The case involved allegations of tax evasion through manipulated stock transactions. The ITAT's decision reinforces the importance of genuine transactions and compliance with tax laws. The ruling highlights the consequences of engaging in fraudulent activities to evade taxes. This case serves as a warning to taxpayers to avoid such practices and adhere to legal and ethical standards.
