https://www.taxtmi.com/highlights?id=88485 ITAT denied LTCG exemption u/s 10(38) and confirmed addition u/s 68 against the assessee. The tribunal observed no prior investment history, lack of substantive transaction evidence, and suspicious share trading pattern. Despite opportunities to validate transactions, the assessee failed to provide credible documentation. The tribunal referenced precedent involving penny stock transactions and found no genuine sale evidence beyond broker contract notes. The absence of verifiable transaction details and inconsistent trading behavior led to dismissal of the assessee's appeal, upholding the revenue's assessment and rejecting claimed long-term capital gains exemption. en-us Sat, 17 May 2025 08:39:12 +0530 Sat, 17 May 2025 08:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88485 ITAT denied LTCG exemption u/s 10(38) and confirmed addition u/s 68 against the assessee. The tribunal observed no prior investment history, lack of substantive transaction evidence, and suspicious share trading pattern. Despite opportunities to validate transactions, the assessee failed to provide credible documentation. The tribunal referenced precedent involving penny stock transactions and found no genuine sale evidence beyond broker contract notes. The absence of verifiable transaction details and inconsistent trading behavior led to dismissal of the assessee's appeal, upholding the revenue's assessment and rejecting claimed long-term capital gains exemption. Highlights Income Tax Sat, 17 May 2025 08:39:12 +0530 https://www.taxtmi.com/highlights?id=88485