Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]

Exemption - Sale of Shares - Purchase of shares - long term capital gain - ITAT - ITAT Kolkata - shares - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be allowed where the purchase and sale of shares on which long-term capital gain (LTCG) is earned has been genuinely effected. The assessee filed the return of income during the year…

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