https://www.taxtmi.com/caselaws?id=784372 Addition under s.69A for alleged unexplained money from purported penny-stock manipulation was examined. The Tribunal held that where the taxpayer produced primary documentary evidence-contract notes, broker account statements, and Demat records-showing purchase and sale through a registered stock broker and online exchange platform, the initial onus to prove genuineness stood discharged. As the AO neither disputed these documents nor independently verified them, and the Revenue failed to substantiate that the scrip was a penny stock, reliance solely on third-party statements recorded during search was insufficient. The deletion of the addition by CIT(A) was upheld and the Revenue's appeal was dismissed. en-us Mon, 29 Dec 2025 00:00:00 +0530 Tue, 30 Dec 2025 12:12:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784372 Addition under s.69A for alleged unexplained money from purported penny-stock manipulation was examined. The Tribunal held that where the taxpayer produced primary documentary evidence-contract notes, broker account statements, and Demat records-showing purchase and sale through a registered stock broker and online exchange platform, the initial onus to prove genuineness stood discharged. As the AO neither disputed these documents nor independently verified them, and the Revenue failed to substantiate that the scrip was a penny stock, reliance solely on third-party statements recorded during search was insufficient. The deletion of the addition by CIT(A) was upheld and the Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 29 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784372