PR CIT 9, KOLKATA vs. MANISHA TIKMANI
In the result, these appeals are allowed and the substantial
ITAT/155/2021HC Calcutta14 Jun 2022
Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
penny stock companies is of the nature of an adventure and to explain this
concept, reliance was placed on the decision of this Court in ITO, “A” Ward,
68 ITA No. 270 of 1999
69 328 ITR 656 (Bom)
70 299 ITR 179 (P&H)
71 2008 4 SCC 144
72 1967 AIR 295
ITAT