https://www.taxtmi.com/caselaws?id=798222 Documented stock-exchange transactions supported by contract notes, demat records and actual consideration cannot be treated as artificial penny-stock losses solely on general investigation material, abnormal price movements or weak scrip fundamentals. Disallowance requires evidence specifically linking the taxpayer to manipulation or accommodation entries. A consequential unexplained-expenditure addition for alleged commission cannot stand without independent proof of commission expenditure. Interest on borrowings remains deductible where an interest-free advance to a related company is commercially expedient, connected with the taxpayer's business, and no diversion of interest-bearing funds for non-business purposes is established. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798222 Documented stock-exchange transactions supported by contract notes, demat records and actual consideration cannot be treated as artificial penny-stock losses solely on general investigation material, abnormal price movements or weak scrip fundamentals. Disallowance requires evidence specifically linking the taxpayer to manipulation or accommodation entries. A consequential unexplained-expenditure addition for alleged commission cannot stand without independent proof of commission expenditure. Interest on borrowings remains deductible where an interest-free advance to a related company is commercially expedient, connected with the taxpayer's business, and no diversion of interest-bearing funds for non-business purposes is established. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798222