The Tax Publishers2019 TaxPub(DT) 7939 (SC) : (2020) 268 TAXMAN 0320

INCOME TAX ACT, 1961,

Section 261 Section 10(38)

Where the assessee preferred SLP to appeal against the judgment of Delhi High Court in Suman Poddar v. ITO [ITA No. 841/2019, dt. 17-9-2019] : 2019 TaxPub(DT) 6695 (Del-HC), whereby the High Court held that no evidence of actual sale, except the contract notes issued by the share broker were produced by the assessee, that no question of law, therefore, arose in the present case and the consistent finding of fact returned against the assessee were based on evidence on record, the Supreme Court dismissed the SLP.

Appeal (Supreme Court) - Special leave petition - Exemption under section 10(38) - Bogus LTCG earned artificially on penny stock

Assessee preferred SLP to appeal against the judgment of Delhi High Court in Suman Poddar v. ITO [ITA No. 841/2019, dt. 17-9-2019] : 2019 TaxPub(DT) 6695 (Del-HC), whereby the High Court held that no evidence of actual sale, except the contract notes issued by the share broker were produced by the assessee, that no question of law, therefore, arose in the present case and the consistent finding of fact returned against the assessee were based on evidence on record. Held: The Supreme Court dismissed the SLP.

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