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ITAT, Mumbai: LTCG on Penny Stock Transaction Cannot be Denied Exemption - (15 Mar 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Mumbai has ruled that long term capital gains arising from a penny stock transaction cannot be denied exemption under the Income Tax Act, 1961 on the ground that the said transaction is bogus and pre-arranged in the absence of any incriminating material.

Tags : INCOME TAX APPELLATE TRIBUNAL   LTCG ON PENNY STOCK TRANSACTION  

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