The Income Tax Appellate Tribunal (ITAT ) Kolkata bench held that long Term Capital Gain (LTCG) from sale of equity shares of penny stock companies listed with Bombay Stock Exchange (BSE) is not eligible for exemption under Section 10(38) of Income Tax Act, 1961. Assesee , Manoj Jain is a Hindu Undivided Family (HUF).While filing…
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