Penny Stock LTCG Allegation Rejected as Revenue Produced No Assessee-Specific Evidence

Sacchanand Hiralal Lalwani Vs ACIT (ITAT Nagpur) Section 68 Addition Deleted Because AO Failed to Disprove Documented Share Transactions; LTCG Exemption Allowed Because Investigation Report Alone Could Not Prove Bogus Transactions; No Section 68 Addition Because Assessee Produced Complete Documentary Evidence; Capital Gains Exemption Restored Because No Evidence Linked Assessee to Price Manipulation; Section 10(38) Relief Granted Because Natural Justice Was Not Followed; Section 68 Addition Set Aside Because Sale Through Recognised Broker Was Properly Documented; LTCG Claim Upheld Because AO F...