F.No. 279/Misc./M-93/2018-ITJ(Pt.)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi , Dated:16th September 2019
OFFICE MEMORANDUM
Subject:-Special Order of Board exempting cases involving bogus Long Term Capital Gains (LTCG)/Short Term Capital Loss (STCL)through penny stocks from monetary limits specified in any Circular issued under Section 268A of the Income-tax Act,1961-reg
The undersigned is directed to refer to Circular No.23 of 2019 dated 6th september,2019 and to say that hy birtue of powers of the Central Board of direct Taxes u/s 268A of Income -tax 1961.the monetary limits fixed for filing appeals before ITAT/HCand SLPs /appeals before Supreme Court shall not apply in case of assesses claiming bogue LTCG/STCL through penny stocks and appeals /SLPs in such cases shall be filed on merits.
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Circular No : F.No. 279/Misc./M-93/2018-ITJ(Pt.)Published in Income Tax
Source : https://www.incometaxindia.gov.in/communications/circular/special_order_board_in_penny_stocks_cir_16_9_19.pdf