https://www.taxtmi.com/caselaws?id=465025 Sale consideration from share transfers cannot be treated as unexplained cash credit merely because the scrip was alleged to be manipulated or tainted. Where the revenue relies on general findings about a penny stock or rigged price movement, it must still produce cogent material linking the particular taxpayer to accommodation entries, synchronized trading, or bogus transactions. In the absence of any direct connection between the taxpayer and the alleged sham operation, the mere characterisation of the scrip as tainted is insufficient to sustain an addition under section 68, and the addition is liable to be deleted. en-us Thu, 27 Feb 2025 00:00:00 +0530 Tue, 02 Dec 2025 12:30:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465025 Sale consideration from share transfers cannot be treated as unexplained cash credit merely because the scrip was alleged to be manipulated or tainted. Where the revenue relies on general findings about a penny stock or rigged price movement, it must still produce cogent material linking the particular taxpayer to accommodation entries, synchronized trading, or bogus transactions. In the absence of any direct connection between the taxpayer and the alleged sham operation, the mere characterisation of the scrip as tainted is insufficient to sustain an addition under section 68, and the addition is liable to be deleted. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465025