https://www.taxtmi.com/caselaws?id=778993 Section 68 addition based on alleged penny stock sale proceeds was unsustainable where the assessee produced contract notes, broker ledger, bank statements, demat records, and acquisition and sale details, and the receipts were routed through banking channels and the stock exchange. A general investigation report on the scrip, without specific adverse material or independent enquiry against the assessee's own transactions, was insufficient. The assessee had discharged the burden of proving the nature and source of the receipts, so the addition was deleted. en-us Mon, 20 Jan 2025 00:00:00 +0530 Fri, 26 Sep 2025 08:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778993 Section 68 addition based on alleged penny stock sale proceeds was unsustainable where the assessee produced contract notes, broker ledger, bank statements, demat records, and acquisition and sale details, and the receipts were routed through banking channels and the stock exchange. A general investigation report on the scrip, without specific adverse material or independent enquiry against the assessee's own transactions, was insufficient. The assessee had discharged the burden of proving the nature and source of the receipts, so the addition was deleted. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778993