https://www.taxtmi.com/highlights?id=71414 Addition u/s. 69B - penny stock - mere suspicion that the assessee has invested in alleged penny stock scrip cannot be made basis of addition u/s. 69B of the Act. In the absence of any material evidences to corroborate the information received from DDIT that M/s. Vas Infrastructure Ltd. is a penny stock, we find no justification in upholding the addition made by the A.O - AT en-us Thu, 10 Aug 2023 11:59:06 +0530 Thu, 10 Aug 2023 11:59:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71414 Addition u/s. 69B - penny stock - mere suspicion that the assessee has invested in alleged penny stock scrip cannot be made basis of addition u/s. 69B of the Act. In the absence of any material evidences to corroborate the information received from DDIT that M/s. Vas Infrastructure Ltd. is a penny stock, we find no justification in upholding the addition made by the A.O - AT Highlights Income Tax Thu, 10 Aug 2023 11:59:06 +0530 https://www.taxtmi.com/highlights?id=71414