https://www.taxtmi.com/caselaws?id=791418 Shares were treated as genuine investment rather than bogus penny stock transactions, because the investor purchased them to invest and not for frequent short-span trading to earn exempt income. The High Court's view that the exemption claim under section 10(38) could not be denied on the facts was left undisturbed, as no good ground was found to interfere and the special leave petition was dismissed. en-us Fri, 08 May 2026 00:00:00 +0530 Mon, 11 May 2026 09:50:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791418 Shares were treated as genuine investment rather than bogus penny stock transactions, because the investor purchased them to invest and not for frequent short-span trading to earn exempt income. The High Court's view that the exemption claim under section 10(38) could not be denied on the facts was left undisturbed, as no good ground was found to interfere and the special leave petition was dismissed. Case-Laws Income Tax Fri, 08 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791418