https://www.taxtmi.com/caselaws?id=472639 Documented sale proceeds from exchange-traded listed shares cannot be treated as unexplained cash credits merely because of alleged penny-stock manipulation where the taxpayer establishes purchase and sale through contract notes, demat records, broker ledgers, securities transaction tax and banking channels. Once this initial evidentiary burden is met, the Revenue must produce taxpayer-specific material linking the transaction to price rigging, accommodation entries or market manipulation. General investigation material and unusual price movements alone do not meet that burden; suspicion and presumptions cannot substitute for evidence or support the human-probabilities test. The long-term capital-gain exemption remains available where the documented transactions are not disproved. en-us Tue, 22 Apr 2025 00:00:00 +0530 Mon, 19 Oct 2026 19:03:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472639 Documented sale proceeds from exchange-traded listed shares cannot be treated as unexplained cash credits merely because of alleged penny-stock manipulation where the taxpayer establishes purchase and sale through contract notes, demat records, broker ledgers, securities transaction tax and banking channels. Once this initial evidentiary burden is met, the Revenue must produce taxpayer-specific material linking the transaction to price rigging, accommodation entries or market manipulation. General investigation material and unusual price movements alone do not meet that burden; suspicion and presumptions cannot substitute for evidence or support the human-probabilities test. The long-term capital-gain exemption remains available where the documented transactions are not disproved. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472639