https://www.taxtmi.com/caselaws?id=424395 The ITAT upheld the CIT(A)'s decision, confirming the addition of Rs. 51,62,206 as bogus LTCG and dismissing the assessee's appeal. The judgment emphasized the assessee's failure to prove the genuineness of the transactions and the circumstantial evidence pointing to a sham transaction. The ITAT relied on judicial precedents to support its decision, highlighting the improbability of such high returns from penny stocks without any substantial company credentials. en-us Fri, 24 Jun 2022 00:00:00 +0530 Tue, 28 Jun 2022 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424395 The ITAT upheld the CIT(A)'s decision, confirming the addition of Rs. 51,62,206 as bogus LTCG and dismissing the assessee's appeal. The judgment emphasized the assessee's failure to prove the genuineness of the transactions and the circumstantial evidence pointing to a sham transaction. The ITAT relied on judicial precedents to support its decision, highlighting the improbability of such high returns from penny stocks without any substantial company credentials. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424395