https://www.taxtmi.com/caselaws?id=794319 Alleged long-term capital gain from share transactions was treated as non-genuine and taxed as unexplained income under section 68 where investigation material, abnormal price rise in the scrip, and surrounding circumstances outweighed demat statements, contract notes, and account records. The Tribunal applied the settled human probabilities test and held that penny stock dealings with unusual price movements may be disregarded as sham transactions despite documentary support. The addition under section 68 was therefore upheld in favour of the Revenue. en-us Tue, 30 Jun 2026 00:00:00 +0530 Fri, 03 Jul 2026 08:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794319 Alleged long-term capital gain from share transactions was treated as non-genuine and taxed as unexplained income under section 68 where investigation material, abnormal price rise in the scrip, and surrounding circumstances outweighed demat statements, contract notes, and account records. The Tribunal applied the settled human probabilities test and held that penny stock dealings with unusual price movements may be disregarded as sham transactions despite documentary support. The addition under section 68 was therefore upheld in favour of the Revenue. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794319