https://www.taxtmi.com/caselaws?id=770898 ITAT Delhi allowed the assessee's appeal against addition under Section 68 for alleged bogus long-term capital gains. The AO and CIT(A) treated the transaction as accommodation entries involving penny stocks without establishing the assessee's direct involvement in manipulation or rigging activities. Following the Bombay HC precedent in Ziauddin A Siddique, ITAT found no material evidence to prove the transaction was non-genuine, ruling in favor of the assessee. en-us Wed, 14 May 2025 00:00:00 +0530 Sat, 17 May 2025 08:39:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770898 ITAT Delhi allowed the assessee's appeal against addition under Section 68 for alleged bogus long-term capital gains. The AO and CIT(A) treated the transaction as accommodation entries involving penny stocks without establishing the assessee's direct involvement in manipulation or rigging activities. Following the Bombay HC precedent in Ziauddin A Siddique, ITAT found no material evidence to prove the transaction was non-genuine, ruling in favor of the assessee. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770898