https://www.taxtmi.com/caselaws?id=770156 ITAT Mumbai-AT allowed assessee's appeal against addition u/s 69 for bogus LTCG in penny stock transactions. Despite revenue's claim that shares were manipulated by broker for non-genuine LTCG entries, tribunal found assessee discharged initial onus by providing documentary evidence including purchase through registered broker, banking channel payments, Dmat account records, contract notes, and payment of all taxes (STT, stamp duty, SEBI turnover tax). Company remained listed on BSE throughout. Revenue failed to prove assessee's active involvement in script manipulation. Following judicial consistency principle and precedent in RNR Trading case involving same script, tribunal deleted additions made u/s 68. en-us Mon, 10 Mar 2025 00:00:00 +0530 Wed, 07 May 2025 09:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770156 ITAT Mumbai-AT allowed assessee's appeal against addition u/s 69 for bogus LTCG in penny stock transactions. Despite revenue's claim that shares were manipulated by broker for non-genuine LTCG entries, tribunal found assessee discharged initial onus by providing documentary evidence including purchase through registered broker, banking channel payments, Dmat account records, contract notes, and payment of all taxes (STT, stamp duty, SEBI turnover tax). Company remained listed on BSE throughout. Revenue failed to prove assessee's active involvement in script manipulation. Following judicial consistency principle and precedent in RNR Trading case involving same script, tribunal deleted additions made u/s 68. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770156