https://www.taxtmi.com/caselaws?id=788733 Long-term capital gains exemption on share sale was sustained where the assessee proved purchase through banking channels, demat records, contract notes, bank statements and sale through a recognised stock exchange. The Revenue relied mainly on general investigation material, alleged penny stock manipulation and price rise, but produced no direct evidence linking the assessee to any entry operator, broker misconduct or sham arrangement, and no independent enquiry rebutted the documentary trail. On these facts, the addition for alleged bogus capital gains and unexplained expenditure did not survive, and the deletion of the addition was upheld. en-us Wed, 25 Mar 2026 00:00:00 +0530 Fri, 27 Mar 2026 08:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788733 Long-term capital gains exemption on share sale was sustained where the assessee proved purchase through banking channels, demat records, contract notes, bank statements and sale through a recognised stock exchange. The Revenue relied mainly on general investigation material, alleged penny stock manipulation and price rise, but produced no direct evidence linking the assessee to any entry operator, broker misconduct or sham arrangement, and no independent enquiry rebutted the documentary trail. On these facts, the addition for alleged bogus capital gains and unexplained expenditure did not survive, and the deletion of the addition was upheld. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788733