https://www.taxtmi.com/caselaws?id=463260 ITAT upheld the appellate authority's deletions, rejecting the AO's additions under s.68 and disallowance of exemption under s.10(38). The tribunal found the share purchases earlier accepted by Revenue, sales executed on the stock exchange with proceeds routed through brokers and banking channels, and no AO-established involvement in price rigging or defects in the assessee's documents. Accordingly, ITAT confirmed deletion of long- and short-term capital gains additions relating to two penny-stock transactions and upheld the deletion of estimated commission expense additions. en-us Mon, 11 Nov 2024 00:00:00 +0530 Tue, 19 Aug 2025 21:13:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463260 ITAT upheld the appellate authority's deletions, rejecting the AO's additions under s.68 and disallowance of exemption under s.10(38). The tribunal found the share purchases earlier accepted by Revenue, sales executed on the stock exchange with proceeds routed through brokers and banking channels, and no AO-established involvement in price rigging or defects in the assessee's documents. Accordingly, ITAT confirmed deletion of long- and short-term capital gains additions relating to two penny-stock transactions and upheld the deletion of estimated commission expense additions. Case-Laws Income Tax Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463260