Allowing the appeal the Tribunal held that the assessee was not a regular investor and had specifically made the investment in Kappac Pharma  It was on record that the financials of Kappac Pharma    were not commensurate with its purchase and sale price in the market. The assessee had purchased the shares from the open market, dematerialised the scrips and sold them in the stock exchange. There was no discrepancy in the documents filed by the assessee claiming the deduction under section 10(38). Even though all the characteristics of a penny stock existed, the Revenue had not brought on record any material to link the assessee with any dubious transactions relating to entry, price rigging or exit providers. Even in the report of the Securities and Exchange Board of India, there was no mention or reference to the involvement of the assessee. The assessee was a beneficiary in the transactions merely as an unsuspecting investor, who had sought quick profit. The Assessing Officer applied presumptions and human probabilities to make the addition without having any material against the assessee.  Addition affirmed by the CIT(A) is deleted. (AY. 2014-15)