Allowing the appeal of the assessee the Tribunal held that consiodering the evidences produces such as , Copies of the physical share certificates DEMAT account statement confirmation of the transactions of buying and selling of the said shares by the respective stock brokers, receipt of sale proceeds through banking channels, etc- Addition cannot be made as cash credits .( ITA No. 3803/Mum/2011 dt. 27-04 2016 )
Late Roshan Raja Through Legal v ITO (Mum) (Trib) (www.itatonline.org )
S.45: Capital gains – Suspicious transaction in shares- Penny stocks
-Copies of the physical share certificates DEMAT account statement confirmation of the transactions of buying and selling of the said shares by the respective stock brokers, receipt of sale proceeds through banking channels, etc- Addition cannot be made as cash credits [ S.68 ]