Bogus capital gains from penny stocks- ITAT restricts addition to 30%

Neha Chowdhary Vs ITO (ITAT Kolkata) Bogus capital gains from penny stocks- It emerges that from a perusal of these case files that although the assessee has produced her documentary evidence before the lower authorities about the impugned sums to be in the nature of income derived from the sales of shares, the fact remains that her detailed explanation tendered in the course of assessment till date does not sufficiently discharge her onus on proving the source of impugned deposits. I therefore deem it appropriate in these peculiar facts and circumstances that the impugned addition(s) deserved...