https://www.taxtmi.com/caselaws?id=397210 The High Court dismissed the appeal, upholding the disallowance of the Short-Term Capital Loss (STCL) claimed by the assessee and the additions made by the Assessing Officer. The court found that the transactions involving penny stocks were part of a scheme aimed at obtaining bogus accommodation entries. The court concluded that no substantial question of law arose for consideration as the income-tax authorities' findings were supported by substantial evidence, and the assessee failed to provide credible evidence to rebut the allegations. en-us Wed, 29 Jul 2020 00:00:00 +0530 Wed, 07 Oct 2020 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397210 The High Court dismissed the appeal, upholding the disallowance of the Short-Term Capital Loss (STCL) claimed by the assessee and the additions made by the Assessing Officer. The court found that the transactions involving penny stocks were part of a scheme aimed at obtaining bogus accommodation entries. The court concluded that no substantial question of law arose for consideration as the income-tax authorities' findings were supported by substantial evidence, and the assessee failed to provide credible evidence to rebut the allegations. Case-Laws Income Tax Wed, 29 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397210