https://www.taxtmi.com/caselaws?id=471415 Documented long-term capital gains from share sales cannot be treated as unexplained cash credits merely because an investigation report alleges penny-stock accommodation entries. Purchases through a registered broker and stock exchange, banking-channel payments, demat-account holdings and sales, and supporting contract notes retain evidentiary value where no defects are identified. A general report concerning the company or its promoters is insufficient without independent evidence linking the investor to operators, price manipulation, or the alleged scheme. On these facts, no addition under Section 68 arises, and the consequential estimated expenditure addition under Section 69C is deleted. en-us Fri, 28 Jul 2023 00:00:00 +0530 Wed, 02 Sep 2026 10:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471415 Documented long-term capital gains from share sales cannot be treated as unexplained cash credits merely because an investigation report alleges penny-stock accommodation entries. Purchases through a registered broker and stock exchange, banking-channel payments, demat-account holdings and sales, and supporting contract notes retain evidentiary value where no defects are identified. A general report concerning the company or its promoters is insufficient without independent evidence linking the investor to operators, price manipulation, or the alleged scheme. On these facts, no addition under Section 68 arises, and the consequential estimated expenditure addition under Section 69C is deleted. Case-Laws Income Tax Fri, 28 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471415