Taxability of capital gains from penny stocks: Burden is on the taxpayer to prove fanciful rise in stock price is genuine
The Honourable Calcutta High Court has held that the onus is on the assessee to establish the genuineness of the price hike in the case...
Capital Gains From Penny Stocks | Rajasthan High Court Judgement
On the question whether capital gains from penny stocks can be assessed as unexplained income, there is a recent judgement of the Rajasthan High Court...