https://www.taxtmi.com/caselaws?id=469781 Long-term capital gain from sale of shares could not be treated as unexplained income under section 68 where the assessee produced a complete documentary trail: purchase through banking channels, share certificates, dematerialisation, exchange-based sale, and banking receipt of sale proceeds. The ITAT found no defects in these materials and no evidence linking the assessee to any price manipulation or accommodation scheme. A general investigation report on penny stock manipulation was insufficient, by itself, to dislodge the assessee's records. The addition was therefore unsustainable. en-us Mon, 10 Mar 2025 00:00:00 +0530 Fri, 03 Jul 2026 19:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469781 Long-term capital gain from sale of shares could not be treated as unexplained income under section 68 where the assessee produced a complete documentary trail: purchase through banking channels, share certificates, dematerialisation, exchange-based sale, and banking receipt of sale proceeds. The ITAT found no defects in these materials and no evidence linking the assessee to any price manipulation or accommodation scheme. A general investigation report on penny stock manipulation was insufficient, by itself, to dislodge the assessee's records. The addition was therefore unsustainable. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469781