https://www.taxtmi.com/caselaws?id=782753 ITAT upheld the order of CIT(A) deleting the addition u/s 69A on account of alleged unexplained money and accommodation entry in the form of short-term capital loss from trading in alleged penny stock. It was noted that the assessee had furnished contract notes, capital gains statements, and evidence of transactions through a recognized stock exchange and registered broker. CIT(A) correctly held that the AO's conclusions were based on mere suspicion without cogent evidence of concealment or proof that the scrip was a penny stock. ITAT found no infirmity in the factual appreciation by CIT(A) and consequently dismissed the Revenue's appeal. en-us Fri, 28 Nov 2025 00:00:00 +0530 Wed, 03 Dec 2025 08:57:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782753 ITAT upheld the order of CIT(A) deleting the addition u/s 69A on account of alleged unexplained money and accommodation entry in the form of short-term capital loss from trading in alleged penny stock. It was noted that the assessee had furnished contract notes, capital gains statements, and evidence of transactions through a recognized stock exchange and registered broker. CIT(A) correctly held that the AO's conclusions were based on mere suspicion without cogent evidence of concealment or proof that the scrip was a penny stock. ITAT found no infirmity in the factual appreciation by CIT(A) and consequently dismissed the Revenue's appeal. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782753