https://www.taxtmi.com/caselaws?id=470514 Long-term capital gains from listed-share sales cannot be treated as unexplained cash credit solely on a general penny-stock investigation report where the taxpayer substantiates the transactions. Banking-channel purchases, dematerialised share holdings, recognised stock-exchange sales through a registered broker, securities transaction tax payment, and bank receipt of sale proceeds support genuineness when the supporting records are not defective. Absent material linking the taxpayer to price manipulation, accommodation entries, or collusion with alleged operators, suspicion arising from price movement, company fundamentals, or a general modus operandi cannot displace the evidentiary record. The sale consideration is not assessable as unexplained cash credit, and the claimed long-term capital gains remain allowable. en-us Fri, 21 Mar 2025 00:00:00 +0530 Wed, 29 Jul 2026 18:59:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470514 Long-term capital gains from listed-share sales cannot be treated as unexplained cash credit solely on a general penny-stock investigation report where the taxpayer substantiates the transactions. Banking-channel purchases, dematerialised share holdings, recognised stock-exchange sales through a registered broker, securities transaction tax payment, and bank receipt of sale proceeds support genuineness when the supporting records are not defective. Absent material linking the taxpayer to price manipulation, accommodation entries, or collusion with alleged operators, suspicion arising from price movement, company fundamentals, or a general modus operandi cannot displace the evidentiary record. The sale consideration is not assessable as unexplained cash credit, and the claimed long-term capital gains remain allowable. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470514