https://www.taxtmi.com/caselaws?id=800223 Long-term capital gains from share sales cannot be classified as unexplained cash credits under Section 68 merely on general penny-stock manipulation allegations. Contract notes, demat records and bank details established the purchase, holding and sale; BSE-platform execution through a SEBI-registered broker and payment of securities transaction tax further supported genuineness. In the absence of adverse findings on that evidence or an independent investigation linking the taxpayer or broker to price rigging, Investigation Wing information and general allegations did not rebut the primary evidentiary record. The Section 68 addition was therefore deleted. en-us Fri, 18 Sep 2026 00:00:00 +0530 Sat, 03 Oct 2026 09:32:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800223 Long-term capital gains from share sales cannot be classified as unexplained cash credits under Section 68 merely on general penny-stock manipulation allegations. Contract notes, demat records and bank details established the purchase, holding and sale; BSE-platform execution through a SEBI-registered broker and payment of securities transaction tax further supported genuineness. In the absence of adverse findings on that evidence or an independent investigation linking the taxpayer or broker to price rigging, Investigation Wing information and general allegations did not rebut the primary evidentiary record. The Section 68 addition was therefore deleted. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800223