https://www.taxtmi.com/caselaws?id=468629 Share-sale proceeds and claimed long-term capital gains cannot be treated as unexplained credits merely because the scrip is alleged to be a penny stock or its price movement appears unusual. Where the assessee produced purchase records, demat entries, sale details and banking-channel evidence, the Revenue had to bring cogent material linking the assessee to price rigging, accommodation entries or a sham arrangement. Mere suspicion, human probabilities and general allegations about penny stocks were insufficient. On that evidentiary basis, the additions under sections 68 and 115BBE and the denial of exemption under section 10(38) were deleted as unsustainable. en-us Mon, 27 Oct 2025 00:00:00 +0530 Thu, 14 May 2026 15:06:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468629 Share-sale proceeds and claimed long-term capital gains cannot be treated as unexplained credits merely because the scrip is alleged to be a penny stock or its price movement appears unusual. Where the assessee produced purchase records, demat entries, sale details and banking-channel evidence, the Revenue had to bring cogent material linking the assessee to price rigging, accommodation entries or a sham arrangement. Mere suspicion, human probabilities and general allegations about penny stocks were insufficient. On that evidentiary basis, the additions under sections 68 and 115BBE and the denial of exemption under section 10(38) were deleted as unsustainable. Case-Laws Income Tax Mon, 27 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468629