https://www.taxtmi.com/caselaws?id=471748 Long-term capital gains from share sales supported by invoices, demat-account records, registered-broker transactions and banking channels cannot be treated as unexplained income merely on a general investigation report alleging penny-stock accommodation entries. Where no independent enquiry or material links the taxpayer to price manipulation or an accommodation-entry arrangement, and the final SEBI report contains no adverse finding on the relevant scrip, documentary evidence remains unrebutted. The gains qualify for exemption under Section 10(38) of the Income Tax Act, 1961, and related additions for unexplained income and estimated commission are unsustainable. en-us Wed, 29 Oct 2025 00:00:00 +0530 Wed, 16 Sep 2026 13:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471748 Long-term capital gains from share sales supported by invoices, demat-account records, registered-broker transactions and banking channels cannot be treated as unexplained income merely on a general investigation report alleging penny-stock accommodation entries. Where no independent enquiry or material links the taxpayer to price manipulation or an accommodation-entry arrangement, and the final SEBI report contains no adverse finding on the relevant scrip, documentary evidence remains unrebutted. The gains qualify for exemption under Section 10(38) of the Income Tax Act, 1961, and related additions for unexplained income and estimated commission are unsustainable. Case-Laws Income Tax Wed, 29 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471748