https://www.taxtmi.com/caselaws?id=800962 Section 68 requires an assessee to establish the genuineness of penny-stock share transactions and the source of sale receipts. Banking-channel payments, contract notes and demat records may not establish genuineness where abnormal price movements, thin or manipulated trading, regulatory findings, identified exit providers, and failure to answer summons point to a pre-arranged accommodation-entry arrangement. Such circumstances can support treating sale proceeds as unexplained credits and estimating related commission expenditure under Section 69C. Natural justice requires disclosure of adverse material, but cross-examination is not indispensable when third-party statements are not the sole or principal basis and corroborative material has been confronted. en-us Mon, 12 Oct 2026 00:00:00 +0530 Wed, 14 Oct 2026 06:17:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800962 Section 68 requires an assessee to establish the genuineness of penny-stock share transactions and the source of sale receipts. Banking-channel payments, contract notes and demat records may not establish genuineness where abnormal price movements, thin or manipulated trading, regulatory findings, identified exit providers, and failure to answer summons point to a pre-arranged accommodation-entry arrangement. Such circumstances can support treating sale proceeds as unexplained credits and estimating related commission expenditure under Section 69C. Natural justice requires disclosure of adverse material, but cross-examination is not indispensable when third-party statements are not the sole or principal basis and corroborative material has been confronted. Case-Laws Income Tax Mon, 12 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800962