Section 69B Addition Unjustified: No Solid Evidence on Taxpayer's Alleged Penny Stock Investment in Vas Infrastructure Ltd.

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....Addition u/s. 69B - penny stock - mere suspicion that the assessee has invested in alleged penny stock scrip cannot be made basis of addition u/s. 69B of the Act. In the absence of any material evidences to corroborate the information received from DDIT that M/s. Vas Infrastructure Ltd. is a penny stock, we find no justification in upholding the addition made by the A.O - AT....