https://www.taxtmi.com/caselaws?id=456517 Whether share-trading loss booked through exchange transactions could be treated as bogus on the basis of "preponderance of probabilities" and general investigation material. The Tribunal held that the assessee produced contemporaneous documentary evidence supporting the trades and there was no challenge to their veracity; mere reliance on probability-based inference drawn from SC and HC precedents, without disproving the documents or identifying any specific infirmity in the loss transactions, was insufficient. It further noted that cases concerning abnormal price rise/penny-stock gains were inapposite where the assessee suffered loss and traded in substantial volume. The impugned addition/disallowance was therefore quashed and the appeal was allowed. en-us Thu, 22 Feb 2024 00:00:00 +0530 Mon, 05 Jan 2026 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456517 Whether share-trading loss booked through exchange transactions could be treated as bogus on the basis of "preponderance of probabilities" and general investigation material. The Tribunal held that the assessee produced contemporaneous documentary evidence supporting the trades and there was no challenge to their veracity; mere reliance on probability-based inference drawn from SC and HC precedents, without disproving the documents or identifying any specific infirmity in the loss transactions, was insufficient. It further noted that cases concerning abnormal price rise/penny-stock gains were inapposite where the assessee suffered loss and traded in substantial volume. The impugned addition/disallowance was therefore quashed and the appeal was allowed. Case-Laws Income Tax Thu, 22 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456517