Section 10(38) Exemption Denied: Tax Authorities Confirm LTCG Misuse in Alleged Money Laundering Scheme.

Denial of benefit of exemption u/s 10(38) - LTCG - the AO has clearly given the modus operandi of money laundering by the stock broker of the agents and the beneficiaries are interested in having their money laundered. He has given detailed reasoning as to how the assessee has introduced her unaccounted money in the garb of Long Term Capital Gain. - Additions confirmed - AT .....

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