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

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

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

b) 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 assessee had indulged in manipulation of the share prices of penny stock M/s. Tuni Textiles Mils Ltd with an intention to record fictitious long Term Capital Gains