https://www.taxtmi.com/caselaws?id=432297 The High Court upheld the decision of the Appellate Tribunal, confirming that the investment in shares was genuine and not a penny stock transaction. The Court dismissed the appeal, agreeing with the lower authorities that the capital gain claimed was legitimate, supported by evidence of long-term investment in shares dating back to 2000-01 and transaction statements from 2001 to 2010. The Court found no error in the Tribunal's conclusion that the shares were held for over ten years, indicating a legitimate investment rather than speculative trading. en-us Mon, 04 Jul 2022 00:00:00 +0530 Mon, 02 Jan 2023 08:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432297 The High Court upheld the decision of the Appellate Tribunal, confirming that the investment in shares was genuine and not a penny stock transaction. The Court dismissed the appeal, agreeing with the lower authorities that the capital gain claimed was legitimate, supported by evidence of long-term investment in shares dating back to 2000-01 and transaction statements from 2001 to 2010. The Court found no error in the Tribunal's conclusion that the shares were held for over ten years, indicating a legitimate investment rather than speculative trading. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432297