https://www.taxtmi.com/caselaws?id=409660 The appeals were dismissed as the assessees failed to challenge the findings that their transactions involving alleged penny stocks and bogus LTCG were not genuine. The AO's addition of entire sale proceeds as unexplained credit u/s. 68 was upheld by the CIT(A) due to lack of evidence refuting collusion with brokers. The assessees' failure to provide material to counter these conclusions led to the dismissal of their appeals, affirming the denial of exemption u/s. 10(38) for long term capital gains. en-us Thu, 01 Jul 2021 00:00:00 +0530 Wed, 14 Jul 2021 06:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409660 The appeals were dismissed as the assessees failed to challenge the findings that their transactions involving alleged penny stocks and bogus LTCG were not genuine. The AO's addition of entire sale proceeds as unexplained credit u/s. 68 was upheld by the CIT(A) due to lack of evidence refuting collusion with brokers. The assessees' failure to provide material to counter these conclusions led to the dismissal of their appeals, affirming the denial of exemption u/s. 10(38) for long term capital gains. Case-Laws Income Tax Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409660