https://www.taxtmi.com/caselaws?id=349934 Additions for unexplained investment in immovable properties, unconfirmed loans, unexplained bank deposits and household expenses were found to require fresh verification because the additional evidence and remand material had not been fully examined; those matters were set aside and restored for de novo adjudication. By contrast, alleged long-term capital gains from penny stock transactions were held to be unproved where the assessee failed to establish payment, delivery, or genuineness of the trades, the brokers indicated accommodation entries, and no cross-examination was sought. The related commission expenditure was also upheld as a consequence of the finding that the transactions were sham. en-us Mon, 23 Oct 2017 00:00:00 +0530 Fri, 27 Oct 2017 09:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349934 Additions for unexplained investment in immovable properties, unconfirmed loans, unexplained bank deposits and household expenses were found to require fresh verification because the additional evidence and remand material had not been fully examined; those matters were set aside and restored for de novo adjudication. By contrast, alleged long-term capital gains from penny stock transactions were held to be unproved where the assessee failed to establish payment, delivery, or genuineness of the trades, the brokers indicated accommodation entries, and no cross-examination was sought. The related commission expenditure was also upheld as a consequence of the finding that the transactions were sham. Case-Laws Income Tax Mon, 23 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349934