2014 (7) TMI 1343 - HC - Income Tax

Bogus LTCG - Addition u/s 68 - exemption u/s 10(38) denied - denial of LTCG computed on sale of shares, treating the same as penny stocks - HELD THAT - Share transactions of the appellant are genuine.Appeal dismissed.

Summary

The High Court of Andhra Pradesh dismissed an appeal due to an identical issue previously dismissed in another case. The appeal was dismissed with no order as to costs.