The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the revisional order when the Assessing Officer (AO) failed to enquire about bogus Transactions of earning long-term capital gain (LTCG) from penny stock companies. Shri Rajeeva Kumar, Advocate appeared on behalf of the assesseeand Md. Ghayasuddin, CIT(DR), appeared on behalf of the…
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