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Section 69 of Income Tax Act: Additions Confirmed for Bogus Long-Term Capital Gains from Penny Stock Investments.

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Full Text of the Document

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....Addition u/s 69 - bogus LTCG - Penny Stock purchases - Overall facts on record and the nature of transaction clearly indicate that this transaction basically falls under the category of penny stock and assessee has not proved basic information why he has invested in the company which does not have any net-worth and no financial activities. - Additions confirmed - AT....

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