https://www.taxtmi.com/caselaws?id=326588 Documented purchase, transfer, dematerialisation and sale of shares cannot be displaced merely by general investigation material or suspicion; on the stated facts, the Tribunal found no direct evidence that the transactions were sham and deleted the addition treating long-term capital gain as income from other sources. A commission addition under section 69C also cannot survive where it rests only on the same assumption of bogus transactions and there is no independent evidence of actual payment by the assessee; that addition was likewise deleted. The stated legal principle is that documentary evidence and factual foundation are required before such additions can be sustained. en-us Fri, 26 Feb 2016 00:00:00 +0530 Wed, 20 Apr 2016 09:50:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326588 Documented purchase, transfer, dematerialisation and sale of shares cannot be displaced merely by general investigation material or suspicion; on the stated facts, the Tribunal found no direct evidence that the transactions were sham and deleted the addition treating long-term capital gain as income from other sources. A commission addition under section 69C also cannot survive where it rests only on the same assumption of bogus transactions and there is no independent evidence of actual payment by the assessee; that addition was likewise deleted. The stated legal principle is that documentary evidence and factual foundation are required before such additions can be sustained. Case-Laws Income Tax Fri, 26 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326588