https://www.taxtmi.com/caselaws?id=800655 Sale consideration from listed equity shares sold through a recognised stock exchange cannot be treated as unexplained cash credit merely on general penny-stock manipulation allegations. Genuineness is supported where purchases were bank-funded, shares resulted from a court-sanctioned amalgamation and were credited to a Demat account, the holding period exceeded two years, sales occurred through SEBI-registered brokers, securities transaction tax was paid, and proceeds were received through banking channels. In the absence of material showing cash payment, price rigging, or involvement in accommodation entries, suspicion cannot replace legal proof. Consistent treatment of identical transactions in the same scrip and assessment year further supports genuineness. en-us Wed, 23 Sep 2026 00:00:00 +0530 Fri, 09 Oct 2026 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800655 Sale consideration from listed equity shares sold through a recognised stock exchange cannot be treated as unexplained cash credit merely on general penny-stock manipulation allegations. Genuineness is supported where purchases were bank-funded, shares resulted from a court-sanctioned amalgamation and were credited to a Demat account, the holding period exceeded two years, sales occurred through SEBI-registered brokers, securities transaction tax was paid, and proceeds were received through banking channels. In the absence of material showing cash payment, price rigging, or involvement in accommodation entries, suspicion cannot replace legal proof. Consistent treatment of identical transactions in the same scrip and assessment year further supports genuineness. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800655