https://www.taxtmi.com/caselaws?id=770685 ITAT Mumbai held that additions under sections 68 and 69C for unexplained cash credit and expenditure could not be sustained. The tribunal found that the shares in question were not penny stocks in the relevant assessment year. Consequently, the additions made by the Assessing Officer under both sections 68 and 69C were deleted. The assessee's appeal was allowed on merit, resulting in a favorable outcome for the taxpayer. en-us Wed, 30 Apr 2025 00:00:00 +0530 Tue, 13 May 2025 15:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770685 ITAT Mumbai held that additions under sections 68 and 69C for unexplained cash credit and expenditure could not be sustained. The tribunal found that the shares in question were not penny stocks in the relevant assessment year. Consequently, the additions made by the Assessing Officer under both sections 68 and 69C were deleted. The assessee's appeal was allowed on merit, resulting in a favorable outcome for the taxpayer. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770685