Dismissing the petition the Court held that, despite of lapse of four years of a scrutiny assessment, there is fresh tangible material in the form of information of beneficiaries of bogus LTCL \/ STCL report prepared by the Dy. DIT (Inv) reveals that penny stock whose share price was manipulated in trade by way of a complex web of pre-arranged or artificial transactions to book long-term\/short-term capital gain\/loss to the beneficiaries. Assessee was involved in the trade of penny stock and had sold shares. The reassessment notice was held to be valid. (AY.2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-After the expiry of four years-Penny stock-Information from investigation wing-Fresh material-No change of opinion-Reassessment notice is valid. [S. 148, 151, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33383","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8Gr","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=33383"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33383\/revisions"}],"predecessor-version":[{"id":33384,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33383\/revisions\/33384"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=33383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=33383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}