https://www.taxtmi.com/caselaws?id=469678 Share sale proceeds could not be treated as unexplained cash credit where the purchases were made through banking channels, the shares were dematerialised, the sale occurred through the stock exchange, and the proceeds were received by bank transfer; a general investigation report without defect in the documentary record was insufficient to displace the transactions. On that basis, the addition under section 68 failed and the exemption under section 10(38) was allowed. As the share transactions were accepted as genuine, there was no basis for estimating commission as unexplained expenditure under section 69C, so that addition also failed. en-us Wed, 24 Jul 2024 00:00:00 +0530 Sat, 27 Jun 2026 22:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469678 Share sale proceeds could not be treated as unexplained cash credit where the purchases were made through banking channels, the shares were dematerialised, the sale occurred through the stock exchange, and the proceeds were received by bank transfer; a general investigation report without defect in the documentary record was insufficient to displace the transactions. On that basis, the addition under section 68 failed and the exemption under section 10(38) was allowed. As the share transactions were accepted as genuine, there was no basis for estimating commission as unexplained expenditure under section 69C, so that addition also failed. Case-Laws Income Tax Wed, 24 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469678