ITAT Deletes Penny Stock Addition as Assessee Had Claimed Short-Term Capital Loss:
The ITAT Mumbai held that additions made by the AO were incorrect as it was assumed that assessee claimed exempt Long-Term Capital Gain but the assessee disclosed a Short-Term Capital Loss through penny stock transactions
ITAT Deletes Addition under Section 68 and 69C
Saloni Kumari
Jun 2, 2026Premium
ITAT Deletes Penny Stock Addition as Assessee Had Claimed Short-Term Capital Loss
The ITAT Mumbai held that additions made by the AO were incorrect as it was assumed that assessee claimed exempt Long-Term Capital Gain but the assessee disclosed a Short-Term Capital Loss through penny stock transactions
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Saloni Kumari
Content Writer
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
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