https://www.taxtmi.com/caselaws?id=431726 The appeal was dismissed by the Tribunal, upholding the decision of the Ld. CIT(A) regarding the treatment of Long Term Capital Gain (LTCG) on the sale of shares and addition of alleged expenditure under section 69C of the Income-tax Act. The appellant's challenge to the AO's treatment of LTCG on the sale of shares as a penny stock and the addition of an alleged cost of arrangement of accommodation entry was not successful. The Tribunal concurred with the High Court's emphasis on the burden of proof on the assessee in cases involving substantial gains in a short period, leading to the dismissal of the appeal. en-us Tue, 13 Dec 2022 00:00:00 +0530 Mon, 19 Dec 2022 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431726 The appeal was dismissed by the Tribunal, upholding the decision of the Ld. CIT(A) regarding the treatment of Long Term Capital Gain (LTCG) on the sale of shares and addition of alleged expenditure under section 69C of the Income-tax Act. The appellant's challenge to the AO's treatment of LTCG on the sale of shares as a penny stock and the addition of an alleged cost of arrangement of accommodation entry was not successful. The Tribunal concurred with the High Court's emphasis on the burden of proof on the assessee in cases involving substantial gains in a short period, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 13 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431726