https://www.taxtmi.com/caselaws?id=754904 Addition under section 68 on alleged penny-stock sale proceeds was deleted because the investment trail, bank records and company financials supported genuineness, and the share price rise was gradual over nearly ten years rather than a sudden spike typical of bogus long-term capital gain schemes. Mere Mauritius residence and treaty exemption did not establish an accommodation entry or cash-routing device, and no reliable material linked the assessee to price manipulation. Suspicion alone was insufficient to treat the transaction as unexplained income, so the addition was not sustainable. en-us Thu, 13 Jun 2024 00:00:00 +0530 Tue, 27 Aug 2024 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754904 Addition under section 68 on alleged penny-stock sale proceeds was deleted because the investment trail, bank records and company financials supported genuineness, and the share price rise was gradual over nearly ten years rather than a sudden spike typical of bogus long-term capital gain schemes. Mere Mauritius residence and treaty exemption did not establish an accommodation entry or cash-routing device, and no reliable material linked the assessee to price manipulation. Suspicion alone was insufficient to treat the transaction as unexplained income, so the addition was not sustainable. Case-Laws Income Tax Thu, 13 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754904