https://www.taxtmi.com/caselaws?id=785363 Reopening of assessment alleging bogus long-term capital gains in penny stock was challenged on the basis that SEBI investigation and interim relief had found the relevant transactions not violative of regulatory norms, and the assessee was not identified as part of any fraudulent scheme; therefore the assessing officer's addition treating the gains as bogus was unsupported and the appellate view upholding non-taxability was sustained, resulting in relief to the assessee. en-us Mon, 19 Jan 2026 00:00:00 +0530 Wed, 21 Jan 2026 11:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785363 Reopening of assessment alleging bogus long-term capital gains in penny stock was challenged on the basis that SEBI investigation and interim relief had found the relevant transactions not violative of regulatory norms, and the assessee was not identified as part of any fraudulent scheme; therefore the assessing officer's addition treating the gains as bogus was unsupported and the appellate view upholding non-taxability was sustained, resulting in relief to the assessee. Case-Laws Income Tax Mon, 19 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785363