https://www.taxtmi.com/caselaws?id=466105 Challenge to tax addition treating alleged bogus long term capital gains from penny stock transactions was considered; the appellate reasoning accepted that the impugned addition lacked sustaining evidence and the addition was deleted, with that deletion applied mutatis mutandis to the present matter. The consequence is that revenue appeals against deletion of the addition were dismissed and the prior order deleting the unexplained investment-related addition governs the facts of the present case. en-us Thu, 16 May 2024 00:00:00 +0530 Fri, 23 Jan 2026 19:18:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466105 Challenge to tax addition treating alleged bogus long term capital gains from penny stock transactions was considered; the appellate reasoning accepted that the impugned addition lacked sustaining evidence and the addition was deleted, with that deletion applied mutatis mutandis to the present matter. The consequence is that revenue appeals against deletion of the addition were dismissed and the prior order deleting the unexplained investment-related addition governs the facts of the present case. Case-Laws Income Tax Thu, 16 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466105