Share Price increased due to Manipulation and Rigging through Penny Stock Company: ITAT upholds Addition [Read Order]

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The Delhi bench of the Income Tax Appellate Tribunal (ITAT)has upheld an addition of long term capital gain by observing that the assessee has failed to explain the reason for increase in shares. The department earlier found that the share price has increased due to price manipulation and rigging using a penny stock company. The…

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