https://www.taxtmi.com/caselaws?id=789275 Recorded share sale proceeds were treated as explained where the shares had been acquired in earlier years, their purchase and disclosure were not disturbed in prior assessments, and the assessee produced sale records, buyer details, bank statements, audited accounts and return filings to establish identity, creditworthiness and genuineness; in the absence of incriminating material, fund-flow evidence or proof that the proceeds were unaccounted money, section 68 could not be applied. An ad hoc 5% profit estimate on the sale consideration also lacked factual foundation because no material showed any embedded profit beyond the recorded receipts, so such addition was unsustainable. en-us Thu, 02 Apr 2026 00:00:00 +0530 Mon, 06 Apr 2026 08:51:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789275 Recorded share sale proceeds were treated as explained where the shares had been acquired in earlier years, their purchase and disclosure were not disturbed in prior assessments, and the assessee produced sale records, buyer details, bank statements, audited accounts and return filings to establish identity, creditworthiness and genuineness; in the absence of incriminating material, fund-flow evidence or proof that the proceeds were unaccounted money, section 68 could not be applied. An ad hoc 5% profit estimate on the sale consideration also lacked factual foundation because no material showed any embedded profit beyond the recorded receipts, so such addition was unsustainable. Case-Laws Income Tax Thu, 02 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789275