https://www.taxtmi.com/caselaws?id=787362 Additions under Section 68 were deleted where sale proceeds of unlisted equity shares were supported by prior acceptance in earlier assessments, purchaser confirmations, ITRs, audited accounts and banking trail, and search-recorded statements were retracted without corroboration; the Assessing Officer failed to identify independent defects, so the Section 68 addition of Rs.2,30,00,000 was disallowed. A directed presumptive addition equal to 5% of sales consideration was set aside for lack of evidentiary basis and computation. An alleged non genuine commodity trading profit credited with contract notes and exchange records was also deleted for want of independent contradictory proof. en-us Thu, 26 Feb 2026 00:00:00 +0530 Tue, 03 Mar 2026 08:42:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787362 Additions under Section 68 were deleted where sale proceeds of unlisted equity shares were supported by prior acceptance in earlier assessments, purchaser confirmations, ITRs, audited accounts and banking trail, and search-recorded statements were retracted without corroboration; the Assessing Officer failed to identify independent defects, so the Section 68 addition of Rs.2,30,00,000 was disallowed. A directed presumptive addition equal to 5% of sales consideration was set aside for lack of evidentiary basis and computation. An alleged non genuine commodity trading profit credited with contract notes and exchange records was also deleted for want of independent contradictory proof. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787362