ITAT Allows Section 10(38) LTCG Exemption and Deletes Rs 12.62 Lakh Penny Stock Addition After Finding No Evidence of Accommodation Entry:

ITAT deleted the Rs 12.62 lakh Section 68 addition and directed the AO to allow the LTCG exemption after finding no transaction-specific evidence of price manipulation or accommodation entry.

ITAT Rejects Penny Stock Allegations

Saloni Kumari

Aug 31, 2026

Last update on Aug 31, 2026

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ITAT Allows Section 10(38) LTCG Exemption and Deletes Rs 12.62 Lakh Penny Stock Addition After Finding No Evidence of Accommodation Entry

ITAT deleted the Rs 12.62 lakh Section 68 addition and directed the AO to allow the LTCG exemption after finding no transaction-specific evidence of price manipulation or accommodation entry.

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Saloni Kumari

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Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].