Penny stock addition deleted – Investigation Wing report alone not enough

ITO Vs Aditya Agrawal (ITAT Jabalpur) ITAT Jabalpur Deletes Penny Stock Addition: Investigation Wing Report Alone Insufficient for Section 68 Addition- AO failed independent verification – ITAT upholds CIT(A)’s finding that share transaction was genuine Revenue filed an appeal against the order of CIT(A), NFAC, Delhi deleting an addition of ₹2,20,137/- made u/s 68 on account of alleged bogus long-term capital gain (LTCG) from trading in shares of M/s Safal Herbs Ltd.. Assessee, Aditya Agrawal, had filed his return declaring income of ₹5,98,850/-, including income from salary, other...