Circular on Monetary Limits for Filing Appeals not applicable in case of claiming Bogus LTCG / STCG through Penny Stocks: CBDT [Read Office Memorandum]
![Circular on Monetary Limits for Filing Appeals not applicable in case of claiming Bogus LTCG / STCG through Penny Stocks: CBDT [Read Office Memorandum]](https://www.taxscan.in/wp-content/uploads/2018/09/Tax-Appeals-Taxscan.jpg "Circular on Monetary Limits for Filing Appeals not applicable in case of claiming Bogus LTCG / STCG through Penny Stocks: CBDT [Read Office Memorandum]")
The Central Board of Direct Taxes ( CBDT ) has clarified that, circular on monetary limits for filing appeals not applicable in case of claiming bogus Long-Term Capital Gain ( LTCG ) / Short-term Capital Gain ( STCG ) through penny stocks. The CBDT has issued office memorandum with direction to refer Circular no. 23 of 2019 issued by the board on 06-09-2019. The board reiterates that...
The Central Board of Direct Taxes ( CBDT ) has clarified that, circular on monetary limits for filing appeals not applicable in case of claiming bogus Long-Term Capital Gain ( LTCG ) / Short-term Capital Gain ( STCG ) through penny stocks.
The CBDT has issued office memorandum with direction to refer Circular no. 23 of 2019 issued by the board on 06-09-2019. The board reiterates that the monetary limits fixed for filing appeals before ITAT/HC and SC shall not apply in case of assessees claiming bogus LTCG/STCL through penny stocks and appeals / SLPs in such cases shall be filed on merits.
To Read the full text of the Office Memorandum CLICK HERE