https://www.taxtmi.com/caselaws?id=467815 Off-market sale of shares was treated as genuine where the purchase was made by cheque, confirmed by the broker and issuing company, and reflected in the balance sheet; the sale was also supported by broker confirmations, sale bills, bank details and SEBI registration particulars. The mere fact that the transaction was off-market did not, by itself, establish a sham. The objection under Rule 46A also failed because the additional material was confronted during remand and examined by the Assessing Officer. The addition was therefore not sustainable. en-us Wed, 08 Aug 2012 00:00:00 +0530 Sat, 04 Apr 2026 10:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467815 Off-market sale of shares was treated as genuine where the purchase was made by cheque, confirmed by the broker and issuing company, and reflected in the balance sheet; the sale was also supported by broker confirmations, sale bills, bank details and SEBI registration particulars. The mere fact that the transaction was off-market did not, by itself, establish a sham. The objection under Rule 46A also failed because the additional material was confronted during remand and examined by the Assessing Officer. The addition was therefore not sustainable. Case-Laws Income Tax Wed, 08 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467815