https://www.taxtmi.com/caselaws?id=471699 Long-term capital gains from share sales cannot be treated as unexplained cash credit merely because the scrip is alleged to be a manipulated penny stock. Contract notes, banking records, demat statements and broker ledgers substantiated the purchase, holding and stock-exchange sale of the shares, with proceeds received through banking channels. Where no evidence links the taxpayer or brokers to price manipulation or rigging, the documentary record discharges the taxpayer's initial burden. The addition was deleted. en-us Thu, 23 Nov 2023 00:00:00 +0530 Tue, 15 Sep 2026 11:24:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471699 Long-term capital gains from share sales cannot be treated as unexplained cash credit merely because the scrip is alleged to be a manipulated penny stock. Contract notes, banking records, demat statements and broker ledgers substantiated the purchase, holding and stock-exchange sale of the shares, with proceeds received through banking channels. Where no evidence links the taxpayer or brokers to price manipulation or rigging, the documentary record discharges the taxpayer's initial burden. The addition was deleted. Case-Laws Income Tax Thu, 23 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471699