https://www.taxtmi.com/caselaws?id=469193 Addition under section 68 based on alleged penny stock transactions was deleted because the assessee produced purchase and sale records, broker confirmations, bank trail and demat-linked material showing genuine business dealings. The Revenue relied on general Investigation Wing information but made no independent verification or assessee-specific adverse enquiry, so the unexplained cash credit allegation was not sustained. The order also noted that the actual sale value was lower than the figure adopted by the Assessing Officer and that the trades were of short duration, which weakened the case for accommodation entry or price rigging. en-us Tue, 23 Sep 2025 00:00:00 +0530 Tue, 09 Jun 2026 13:43:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469193 Addition under section 68 based on alleged penny stock transactions was deleted because the assessee produced purchase and sale records, broker confirmations, bank trail and demat-linked material showing genuine business dealings. The Revenue relied on general Investigation Wing information but made no independent verification or assessee-specific adverse enquiry, so the unexplained cash credit allegation was not sustained. The order also noted that the actual sale value was lower than the figure adopted by the Assessing Officer and that the trades were of short duration, which weakened the case for accommodation entry or price rigging. Case-Laws Income Tax Tue, 23 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469193