https://www.taxtmi.com/caselaws?id=774689 The ITAT Mumbai allowed the assessee's appeal against addition of unexplained income under section 68. Despite DDIT(Inv) Mumbai's report labeling the scrip as bogus, the assessee provided comprehensive documentation including contract notes, broker's ledger, demat statements, and banking proofs. The AO made additions solely based on the investigation report without conducting independent verification or rejecting the documentary evidence. The tribunal found no material indicating stock exchange suspension of the scrip and noted the short-term capital gain was properly disclosed in the return. en-us Thu, 10 Jul 2025 00:00:00 +0530 Fri, 11 Jul 2025 14:48:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774689 The ITAT Mumbai allowed the assessee's appeal against addition of unexplained income under section 68. Despite DDIT(Inv) Mumbai's report labeling the scrip as bogus, the assessee provided comprehensive documentation including contract notes, broker's ledger, demat statements, and banking proofs. The AO made additions solely based on the investigation report without conducting independent verification or rejecting the documentary evidence. The tribunal found no material indicating stock exchange suspension of the scrip and noted the short-term capital gain was properly disclosed in the return. Case-Laws Income Tax Thu, 10 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774689