https://www.taxtmi.com/caselaws?id=445086 ITAT Indore ruled in favor of the assessee regarding LTCG exemption u/s 10(38) and brokerage expenses. The assessee provided complete evidence of share transactions including demat records, banking channel payments, and stock exchange transactions. The AO's denial based on suspicion of bogus penny stock transactions was insufficient without conclusive evidence. Since the assessee discharged the burden of proving genuine transactions, the addition u/s 68 and disallowance of brokerage expenses were deleted. en-us Wed, 21 Jun 2023 00:00:00 +0530 Mon, 30 Oct 2023 21:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445086 ITAT Indore ruled in favor of the assessee regarding LTCG exemption u/s 10(38) and brokerage expenses. The assessee provided complete evidence of share transactions including demat records, banking channel payments, and stock exchange transactions. The AO's denial based on suspicion of bogus penny stock transactions was insufficient without conclusive evidence. Since the assessee discharged the burden of proving genuine transactions, the addition u/s 68 and disallowance of brokerage expenses were deleted. Case-Laws Income Tax Wed, 21 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445086