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3 results for “reassessment”+ Penny Stockclear

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Key Topics

Section 1486Section 1474Penny Stock3Reassessment3Reopening of Assessment3Section 260A2

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. P L GOENKA HUF

Accordingly, the appeal filed by the revenue is allowed and the substantial

ITAT/241/2024HC Calcutta06 May 2025

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

For Appellant: Mr. Tilak Mitra, AdvocateFor Respondent: None
Section 144BSection 147Section 260A

penny stock M/s. Tuni Textile Mills Ltd as part of colourable device to generate fictitious LTCG with the aim to evade taxes due? (d) Whether on the facts and in the circumstances of the case and in law the Learned Income Tax Appellate Tribunal (ITAT) was justified in law by not considering the fact that the “tangible information

PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA vs. MANOJ JAIN

ITAT/294/2024HC Calcutta14 Nov 2025

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR

Section 147Section 148

penny stock. However, while perusing the order dated 11th July, 2024 passed by the learned Income Tax Appellate Tribunal (A) Bench, Kolkata, this Court finds that the Tribunal held: 4. In the appellate proceedings, the assessee challenged the reopening of assessment, however the same was held to be validly done by the AO. 2 5. The Ld. A.R. vehemently submitted

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. TANUJ PROPERTIES PRIVATE LIMITED

The appeal stands disposed of with the above direction

ITAT/116/2025HC Calcutta14 Jul 2025

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- Hon'Ble Justice Chaitali Chatterjee (Das) Date : 14Th July, 2025.

Section 260A

reassessment proceedings, it is only necessary to determine whether there was some prima facie material or information on the basis of which the department could reopen the case ? 2. Whether the Learned Income Tax Appellate Tribunal has committed substantial error in law in quashing the reopening of the assessment, ignoring the ratio laid down in the case of Gurera