https://www.taxtmi.com/caselaws?id=798835 Section 68 requires proof of the nature and source of credited sale proceeds; formal contract notes, demat records, stock-exchange transactions and banking receipts do not establish genuine long-term capital gains where operator records, implausible price movements, preferential allotments and fund trails indicate accommodation entries on human-probabilities and preponderance tests. Related commission expenditure supported by seized material may be treated as unexplained expenditure. Expenditure relating to exempt income requires a fresh Section 14A determination where relevant exempt gains were not considered. A credit may be assessed only in the person's hands where seized material supports that attribution. Unexplained loans require proof of lender creditworthiness and transaction genuineness. Penalty notices must specify the precise charge; omnibus notices for concealment or inaccurate particulars are invalid. en-us Wed, 09 Sep 2026 00:00:00 +0530 Sat, 12 Sep 2026 08:41:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798835 Section 68 requires proof of the nature and source of credited sale proceeds; formal contract notes, demat records, stock-exchange transactions and banking receipts do not establish genuine long-term capital gains where operator records, implausible price movements, preferential allotments and fund trails indicate accommodation entries on human-probabilities and preponderance tests. Related commission expenditure supported by seized material may be treated as unexplained expenditure. Expenditure relating to exempt income requires a fresh Section 14A determination where relevant exempt gains were not considered. A credit may be assessed only in the person's hands where seized material supports that attribution. Unexplained loans require proof of lender creditworthiness and transaction genuineness. Penalty notices must specify the precise charge; omnibus notices for concealment or inaccurate particulars are invalid. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798835