https://www.taxtmi.com/caselaws?id=798339 Alleged bogus long-term capital gains from penny-stock share transactions require evidence linking taxpayers to share-price manipulation or accommodation-entry providers. Exchange-traded purchases and sales, demat-account records, and banking-channel payments support transaction genuineness where no material shows conscious participation in manipulation, dealings for accommodation entries, or a regular pattern of share trading. Identification of a scrip as a penny stock and presumptions based on human probabilities cannot replace direct evidence. Estimated commission expenditure likewise requires evidence that services were obtained or commission was paid. Without such evidence, additions for the gains and estimated commission are unsustainable. en-us Wed, 01 Jul 2026 00:00:00 +0530 Sat, 05 Sep 2026 08:44:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798339 Alleged bogus long-term capital gains from penny-stock share transactions require evidence linking taxpayers to share-price manipulation or accommodation-entry providers. Exchange-traded purchases and sales, demat-account records, and banking-channel payments support transaction genuineness where no material shows conscious participation in manipulation, dealings for accommodation entries, or a regular pattern of share trading. Identification of a scrip as a penny stock and presumptions based on human probabilities cannot replace direct evidence. Estimated commission expenditure likewise requires evidence that services were obtained or commission was paid. Without such evidence, additions for the gains and estimated commission are unsustainable. Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798339