Dy. CIT v. Pavankumar Bachhraj Chandan (2024)114 ITR 364 (Mum)(Trib)

S. 68 : Cash credits-Income from undisclosed sources-Capital gains-Penny stock-Securities transaction tax-Payments through banking channels-DMAT account-Burden discharged transactions cannot be held to be bogus-Entitle to exemption. [S. 10(38) 45, 69]

Dismissing the appeal of the Revenue the Tribunal held that the assesseee has paid  Securities transaction tax, payments through banking channels shares are shown in  DMAT account. The assessee has discharged the burden. Denial of exemption is not justified.  (AY.2014-15)

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