ITAT Rejects Penny Stock Additions for Lack of Tangible Evidence:

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

authorMeetu KumaridateJun 5, 2026
Last update on Jul 23, 2026
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ITAT Rejects Penny Stock Additions for Lack of Tangible Evidence

Tribunal quashes reassessments and deletes penny stock additions citing lack of independent inquiry.

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High Court Quashes Income Tax Demand Against Contractual Worker Over Misuse of PANIncome Tax Department Suspects Rs 5,121 Crore Tax Evasion in Uttar Pradesh After Examining Over 26,000 Property Registration DocumentsITAT Deletes Rs 2.06 Crore Addition Under Section 68 for Unsecured LoansITAT Holds Section 263 Revision Invalid on Taxability of Interest Under Section 28 of Land Acquisition Act

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Meetu Kumari

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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.
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