https://www.taxtmi.com/caselaws?id=797150 Long-term capital gain from listed-share sales cannot be treated as unexplained cash credit solely on a general investigation report alleging penny-stock transactions. Where the report does not identify or implicate the taxpayer, and purchases and sales occur through banking channels, shares are credited to a demat account, and trading occurs on a recognised stock exchange, adverse inference requires independent material linking the taxpayer to accommodation entries. Absence of inquiry with the stock exchange or counterparties further prevents rejection based on presumption or surmise. The addition was directed to be deleted. en-us Fri, 07 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797150 Long-term capital gain from listed-share sales cannot be treated as unexplained cash credit solely on a general investigation report alleging penny-stock transactions. Where the report does not identify or implicate the taxpayer, and purchases and sales occur through banking channels, shares are credited to a demat account, and trading occurs on a recognised stock exchange, adverse inference requires independent material linking the taxpayer to accommodation entries. Absence of inquiry with the stock exchange or counterparties further prevents rejection based on presumption or surmise. The addition was directed to be deleted. Case-Laws Income Tax Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797150