No Evidence, No Bogus LTCG: U/s 68 Can’t Rest on Suspicion

Sindhumati Ramavtar Pathak Vs ACIT (ITAT Mumbai) Sunrise Asian LTCG Held Genuine: ITAT Mumbai Deletes s.68 & s.69C Additions Despite Penny-Stock Allegations ITAT Mumbai (F Bench) in Sindhumati Ramavtar Pathak vs ACIT (ITA No. 4914/Mum/2025, AY 2015-16, order dated 24.12.2025) has allowed the assessee’s appeal, deleting additions made u/s 68 (sale proceeds) and u/s 69C (alleged commission) in respect of Long-Term Capital Gains on sale of shares of Sunrise Asian Ltd. The Assessee, a senior citizen widow and regular investor, purchased shares of Conart Trader’s Ltd. in 2011 through bankin...