https://www.taxtmi.com/caselaws?id=781945 ITAT Raipur held that exemption u/s 10(38) on alleged penny stock LTCG could not be denied merely on general reports about manipulation in the scrip and presumptions based on human probabilities. The Department failed to produce any direct evidence of the assessee's involvement in a bogus LTCG scheme, organized financial crime, or collusion with brokers/entry operators. Transactions were through Demat and banking channels and remained undisputed. Consequently, additions u/s 68 on LTCG and the ad hoc 2% commission addition were found arbitrary, bad in law, and deleted. en-us Thu, 20 Nov 2025 00:00:00 +0530 Sat, 22 Nov 2025 07:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781945 ITAT Raipur held that exemption u/s 10(38) on alleged penny stock LTCG could not be denied merely on general reports about manipulation in the scrip and presumptions based on human probabilities. The Department failed to produce any direct evidence of the assessee's involvement in a bogus LTCG scheme, organized financial crime, or collusion with brokers/entry operators. Transactions were through Demat and banking channels and remained undisputed. Consequently, additions u/s 68 on LTCG and the ad hoc 2% commission addition were found arbitrary, bad in law, and deleted. Case-Laws Income Tax Thu, 20 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781945