2024 (3) TMI 576 - SCH - Income Tax

Exemption u/s 10(38) claimed in revised return - bogus LTCG on shares - revised return was filed by the Assessee claiming the above exemption which was denied - denial of an opportunity to cross examine the entry providers - HC held that 2023 (2) TMI 1277 - ORISSA HIGH COURT ITAT was justified in accepting the plea of the Assessee that the failure to adhere the principles of natural justice went to the root of the matter. Also the CBDT circular that permitted to the Assessee to file revised returns if he omitted to make a claim was also not noticed by the AO - HELD THAT - We are not inclined to interfere with the impugned judgment and order passed by the High Court. Hence the Special Leave Petition is dismissed.