https://www.taxtmi.com/caselaws?id=790487 Reassessment based on penny stock share dealings and an investigation report indicating routing of unaccounted income as exempt capital gains was held valid, since the assessee did not deny the transactions and the recorded variation was insignificant. The claim for long-term capital gains exemption was rejected because the purchase and sale pattern, together with the lack of satisfactory evidence for the source and genuineness of the transactions, pointed to a structured device to introduce unaccounted cash. Additions for unexplained cash credit, commission expenditure, and unexplained difference in capital gains under sections 68, 69C, and 69A were sustained, and the relief granted by the first appellate authority was overturned. en-us Thu, 23 Apr 2026 00:00:00 +0530 Sat, 25 Apr 2026 08:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790487 Reassessment based on penny stock share dealings and an investigation report indicating routing of unaccounted income as exempt capital gains was held valid, since the assessee did not deny the transactions and the recorded variation was insignificant. The claim for long-term capital gains exemption was rejected because the purchase and sale pattern, together with the lack of satisfactory evidence for the source and genuineness of the transactions, pointed to a structured device to introduce unaccounted cash. Additions for unexplained cash credit, commission expenditure, and unexplained difference in capital gains under sections 68, 69C, and 69A were sustained, and the relief granted by the first appellate authority was overturned. Case-Laws Income Tax Thu, 23 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790487