Yogini Bipin Soneta v. ITO ( Bom ) (HC) . www.itatonline.org

S. 147: Reassessment – Capital gains -Penny stock alternative remedy – Reassessment notice was held to be valid [ S. 45,142(1), 148 , Art , 226 ]

Reassessment notice was issued for verifying the exemption claimed in respect of penny stock  on the basis of information received . The objection of the assessee  was rejected by the Assessing Officer . On writ dismissing the petition the Court held that the assessee has not offered the short term capital gains hence the reassessment notice was held to be valid .   (AY. 2012 -13 )  (W.P. No. 2817 of 2019 dt . 3 -1 -2022 )  

Leave a Reply

Your email address will not be published.

*