https://www.taxtmi.com/caselaws?id=470989 Documented share purchase and sale transactions supported by banking records, demat holdings, contract notes, recognised stock exchange sales, securities transaction tax and bank receipt of consideration support the genuineness of long-term capital gains. Sale proceeds should not be treated as unexplained cash credit merely on investigation material or an inference that price movements were inconsistent with company financials, where no independent enquiry disproves the evidence. Reliance on third-party material without examining relevant persons or allowing cross-examination is insufficient, particularly where the investor is not implicated in alleged price manipulation. Long-term capital gains exemption may consequently remain available. en-us Thu, 10 Oct 2024 00:00:00 +0530 Mon, 17 Aug 2026 22:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470989 Documented share purchase and sale transactions supported by banking records, demat holdings, contract notes, recognised stock exchange sales, securities transaction tax and bank receipt of consideration support the genuineness of long-term capital gains. Sale proceeds should not be treated as unexplained cash credit merely on investigation material or an inference that price movements were inconsistent with company financials, where no independent enquiry disproves the evidence. Reliance on third-party material without examining relevant persons or allowing cross-examination is insufficient, particularly where the investor is not implicated in alleged price manipulation. Long-term capital gains exemption may consequently remain available. Case-Laws Income Tax Thu, 10 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470989