https://www.taxtmi.com/caselaws?id=795830 Trading losses from identified penny-stock scrips cannot be treated as unexplained income under Section 68 merely on assumptions about the scrips or human probabilities. The notes state that the assessee supported the share transactions with recognised stock exchange records, securities transaction tax payments, contract notes, banking records, broker ledgers and demat statements. In the absence of evidence linking the assessee to price rigging, accommodation entries, or entry and exit operators, and without invalidation of the transactions by any statutory authority, the loss was not established as bogus. The Section 68 addition was therefore deleted. en-us Fri, 24 Jul 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795830 Trading losses from identified penny-stock scrips cannot be treated as unexplained income under Section 68 merely on assumptions about the scrips or human probabilities. The notes state that the assessee supported the share transactions with recognised stock exchange records, securities transaction tax payments, contract notes, banking records, broker ledgers and demat statements. In the absence of evidence linking the assessee to price rigging, accommodation entries, or entry and exit operators, and without invalidation of the transactions by any statutory authority, the loss was not established as bogus. The Section 68 addition was therefore deleted. Case-Laws Income Tax Fri, 24 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795830