https://www.taxtmi.com/caselaws?id=468666 No addition could be sustained on alleged penny stock transactions or related commission where the assessee had not claimed any exempt long-term capital gain under section 10(38). The relevant share transaction reflected positive income that was offered to tax, so there was no factual or legal basis to invoke disallowance of exempt income or to treat the matter as an accommodation entry case. The first appellate authority's deletion of the additions was upheld, and the Revenue's challenge failed. en-us Thu, 06 Feb 2025 00:00:00 +0530 Fri, 15 May 2026 20:34:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468666 No addition could be sustained on alleged penny stock transactions or related commission where the assessee had not claimed any exempt long-term capital gain under section 10(38). The relevant share transaction reflected positive income that was offered to tax, so there was no factual or legal basis to invoke disallowance of exempt income or to treat the matter as an accommodation entry case. The first appellate authority's deletion of the additions was upheld, and the Revenue's challenge failed. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468666