https://www.taxtmi.com/caselaws?id=467682 Penny stock share transactions claimed as short-term capital gains were rejected as bogus where surrounding circumstances showed an accommodation-entry pattern and the assessee failed to prove genuineness. Applying the jurisdictional High Court's settled view, the Tribunal treated the transactions as lacking credible explanation and upheld their assessment as unexplained income, including additions characterised as unexplained cash credit and unexplained expenditure. The assessee's explanation was not accepted, and the appellate challenge to the assessment additions failed. en-us Mon, 05 Jun 2023 00:00:00 +0530 Mon, 30 Mar 2026 10:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467682 Penny stock share transactions claimed as short-term capital gains were rejected as bogus where surrounding circumstances showed an accommodation-entry pattern and the assessee failed to prove genuineness. Applying the jurisdictional High Court's settled view, the Tribunal treated the transactions as lacking credible explanation and upheld their assessment as unexplained income, including additions characterised as unexplained cash credit and unexplained expenditure. The assessee's explanation was not accepted, and the appellate challenge to the assessment additions failed. Case-Laws Income Tax Mon, 05 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467682