https://www.taxtmi.com/caselaws?id=294903 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to grant the benefit of deduction under section 10(38) of the Income Tax Act, 1961. The Tribunal emphasized that transactions labeled as Penny Stocks do not automatically disqualify them from claiming exemption, especially when conducted through recognized channels and held for more than five years. The decision overturned the disallowance by lower authorities, and the appeal was allowed in favor of the assessee. en-us Thu, 19 Mar 2020 00:00:00 +0530 Sat, 08 May 2021 08:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294903 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to grant the benefit of deduction under section 10(38) of the Income Tax Act, 1961. The Tribunal emphasized that transactions labeled as Penny Stocks do not automatically disqualify them from claiming exemption, especially when conducted through recognized channels and held for more than five years. The decision overturned the disallowance by lower authorities, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294903