https://www.taxtmi.com/caselaws?id=471663 Sale proceeds from shares cannot be treated as unexplained cash credit merely on the basis of a general penny-stock investigation report where the taxpayer substantiates acquisition, holding and sale through allotment records, banking payments, demat statements, contract notes, broker ledgers and securities transaction tax evidence. Transactions conducted through a registered broker and stock exchange require contrary material specifically linking the taxpayer to accommodation entries, cash payments or price manipulation. Generic material concerning alleged entry operators does not displace the evidentiary burden already met. On these facts, the addition under Section 68 was directed to be deleted. en-us Tue, 10 Dec 2024 00:00:00 +0530 Sat, 12 Sep 2026 13:28:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471663 Sale proceeds from shares cannot be treated as unexplained cash credit merely on the basis of a general penny-stock investigation report where the taxpayer substantiates acquisition, holding and sale through allotment records, banking payments, demat statements, contract notes, broker ledgers and securities transaction tax evidence. Transactions conducted through a registered broker and stock exchange require contrary material specifically linking the taxpayer to accommodation entries, cash payments or price manipulation. Generic material concerning alleged entry operators does not displace the evidentiary burden already met. On these facts, the addition under Section 68 was directed to be deleted. Case-Laws Income Tax Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471663