https://www.taxtmi.com/caselaws?id=432371 The Tribunal upheld the lower authorities' findings, dismissing the assessee's appeal. The transactions were deemed non-genuine, part of a scheme converting unaccounted money into tax-exempt income using manipulated penny stocks. The Tribunal relied on the preponderance of human probability principle and judicial precedents to affirm additions under Sections 68 and 69C of the Act. The appeal was dismissed, and revenue authorities' additions were upheld. en-us Wed, 07 Dec 2022 00:00:00 +0530 Tue, 03 Jan 2023 21:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432371 The Tribunal upheld the lower authorities' findings, dismissing the assessee's appeal. The transactions were deemed non-genuine, part of a scheme converting unaccounted money into tax-exempt income using manipulated penny stocks. The Tribunal relied on the preponderance of human probability principle and judicial precedents to affirm additions under Sections 68 and 69C of the Act. The appeal was dismissed, and revenue authorities' additions were upheld. Case-Laws Income Tax Wed, 07 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432371