LTCG Addition Unsustainable in Absence of Direct Evidence Linking Assessee to Penny Stock Manipulation: ITAT

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LTCG Addition Unsustainable in Absence of Direct Evidence Linking Assessee to Penny Stock Manipulation: ITAT

Direct Tax

Published on

10/04/2026

By Mariya Paliwala

LTCG Addition Unsustainable in Absence of Direct Evidence Linking Assessee to Penny Stock Manipulation: ITAT

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The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has delivered a significant ruling in favour of the assessee in a case concerning alleged bogus Long-Term Capital Gains (LTCG) arising from penny stock transactions. The bench of Vimal Kumar (Judicial Member) and S Rifaur Rahman (Accountant Member) has reiterated the settled legal position that suspicion, however…

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Mariya Paliwala https://www.jurishour.in/

Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

LTCG Addition Unsustainable in Absence of Direct Evidence Linking Assessee to Penny Stock Manipulation: ITAT

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