https://www.taxtmi.com/caselaws?id=792514 In commodity trading transactions on the NSEL platform involving client code modification, the entire trade value could not be treated as unexplained cash credit under section 68 where contract notes, broker ledgers and banking records supported the trades. Following the coordinate bench view in the assessee's own case, only the profit element embedded in such transactions could be brought to tax, and the first appellate authority's restriction of the addition was sustained. The connected penalty under section 271(1)(c) also failed because it depended on the quantum addition; once the quantum relief stood, the penalty deletion required no interference. en-us Tue, 26 May 2026 00:00:00 +0530 Fri, 29 May 2026 08:59:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792514 In commodity trading transactions on the NSEL platform involving client code modification, the entire trade value could not be treated as unexplained cash credit under section 68 where contract notes, broker ledgers and banking records supported the trades. Following the coordinate bench view in the assessee's own case, only the profit element embedded in such transactions could be brought to tax, and the first appellate authority's restriction of the addition was sustained. The connected penalty under section 271(1)(c) also failed because it depended on the quantum addition; once the quantum relief stood, the penalty deletion required no interference. Case-Laws Income Tax Tue, 26 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792514