Elara India Opportunities Fund Limited v. DCIT (IT) (ITAT Mumbai)

Court: ITAT Mumbai bench
Head Notes:

When in an earlier year, the argument of the Revenue that a particular scrip/ stock was ‘penny stock’, was rejected by the ITAT in the case of the assessee itself, then, principles of judicial consistency and Doctrine of Binding Precedents, would warrant the same view to be taken in a subsequent year as well.

Law:
Section(s): 68, 69C, penny stock
Counsel(s): Rahul Sarda
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Uploaded By ITAT Online Manager
Date of upload: March 10, 2026

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