LTCG from Sale of Equity Share of Penny Stock Companies listed with BSE is not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]

LTCG  - Sale of  Equity - Share - Penny Stock Companies - BSE -  not eligible - exemption - I.T Act - ITAT - taxscan

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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