https://www.taxtmi.com/caselaws?id=467326 Assessment additions under the Income-tax Act were examined on whether sale proceeds treated as long-term capital gains could be sustained as unexplained cash credit and estimated expenses without independent material linking the assessee to alleged broker-led price manipulation. The principle applied requires revenue to produce corroborative evidence connecting the taxpayer to sham transactions; documentary proof of payment through banking channels, credit of shares into demat account, exchange contract notes, and receipt of sale consideration rebutted suspicion. Absent SEBI direction or specific independent evidence, the additions under the invoked provisions were deleted and the appeal allowed for the assessee. en-us Mon, 29 Apr 2024 00:00:00 +0530 Fri, 13 Mar 2026 11:17:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467326 Assessment additions under the Income-tax Act were examined on whether sale proceeds treated as long-term capital gains could be sustained as unexplained cash credit and estimated expenses without independent material linking the assessee to alleged broker-led price manipulation. The principle applied requires revenue to produce corroborative evidence connecting the taxpayer to sham transactions; documentary proof of payment through banking channels, credit of shares into demat account, exchange contract notes, and receipt of sale consideration rebutted suspicion. Absent SEBI direction or specific independent evidence, the additions under the invoked provisions were deleted and the appeal allowed for the assessee. Case-Laws Income Tax Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467326