https://www.taxtmi.com/caselaws?id=781764 ITAT Jaipur dismissed the assessee's appeal and upheld the AO and CIT(A). It confirmed that the alleged LTCG from penny stock transactions was bogus, treating the sale proceeds as unexplained credits taxable as "income from other sources" under s.68 read with s.115BBE. The related addition of 6% commission for obtaining accommodation entries was also sustained, as the assessee failed to rebut the evidence. Further, income from purchase and quick transfer of a flat was held to be business income, not capital gains. Lastly, profit from sale of 24 plots was treated as business income and taxed under s.43CA, with the assessee's objections rejected. en-us Thu, 17 Jul 2025 00:00:00 +0530 Thu, 20 Nov 2025 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781764 ITAT Jaipur dismissed the assessee's appeal and upheld the AO and CIT(A). It confirmed that the alleged LTCG from penny stock transactions was bogus, treating the sale proceeds as unexplained credits taxable as "income from other sources" under s.68 read with s.115BBE. The related addition of 6% commission for obtaining accommodation entries was also sustained, as the assessee failed to rebut the evidence. Further, income from purchase and quick transfer of a flat was held to be business income, not capital gains. Lastly, profit from sale of 24 plots was treated as business income and taxed under s.43CA, with the assessee's objections rejected. Case-Laws Income Tax Thu, 17 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781764