ITAT Rejects Penny Stock Additions for Lack of Tangible Evidence:
Tribunal quashes reassessments and deletes penny stock additions citing lack of independent inquiry.
Section 68 Addition Deleted to Prevent Impermissible Double Taxation
Meetu Kumari
Jun 5, 2026Premium
ITAT Rejects Penny Stock Additions for Lack of Tangible Evidence
Tribunal quashes reassessments and deletes penny stock additions citing lack of independent inquiry.
Also Read
ITAT Deletes Rs 45.45 Lakh Jewellery Addition After Considering Family Holdings; Rs 2.17 Lakh Cash Addition SustainedITAT Directs AO to Grant 115BAA Benefit to Company After Portal Glitch Delayed Form 10-ICITAT Remands Rs 9.73 Crore Land Transaction, Rs 7.60 Crore Cessation of Liability Additions for Fresh ExaminationITAT Grants Fresh Chance to Explain Rs 1.74 Crore Cash Deposits After Order Delivery to Wrong Email ID
About Author
Meetu Kumari
Content Manager
Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
Studycafe
Jodhpur, Rajasthan, India
2264My Recent Articles
- ITAT Condones 302-Day Delay, Restores Salary Assessment for Fresh VerificationPremium
- ITAT Condones Delay After Tax Consultant's Death, Restores Appeals for Fresh HearingPremium
- ITAT Remands Salary Addition, Says Taxability Depends on Salary Becoming Due, Not Mere ReceiptPremium
- ITAT Deletes TP Royalty Adjustment, Orders Fresh Review of Commission BenchmarkingPremium
- ITAT Quashes Reassessment Over Unsigned Section 148 Notice Issued to AssesseePremium
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts