https://www.taxtmi.com/caselaws?id=789665 A penny stock share-sale claim was treated as non-genuine where abnormal price movement, thin trading volumes, weak financial fundamentals, and investigation material indicated a pre-arranged accommodation entry rather than a real investment transaction. Documentary records such as contract notes, bank statements, demat statements, and securities transaction tax payment were insufficient to prove genuineness when the overall market behaviour showed manipulation. Because the assessee failed to satisfactorily explain the nature and source of the credit, the amount was treated as unexplained cash credit and the claimed long-term capital gain exemption was rejected. en-us Thu, 09 Apr 2026 00:00:00 +0530 Sat, 11 Apr 2026 08:53:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789665 A penny stock share-sale claim was treated as non-genuine where abnormal price movement, thin trading volumes, weak financial fundamentals, and investigation material indicated a pre-arranged accommodation entry rather than a real investment transaction. Documentary records such as contract notes, bank statements, demat statements, and securities transaction tax payment were insufficient to prove genuineness when the overall market behaviour showed manipulation. Because the assessee failed to satisfactorily explain the nature and source of the credit, the amount was treated as unexplained cash credit and the claimed long-term capital gain exemption was rejected. Case-Laws Income Tax Thu, 09 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789665