Taxpayer Denied LTCG Exemption u/s 10(38) for Failing to Prove Authenticity of Share Transactions Amid Price Surge.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Bogus LTCG - exemption under section 10(38) denied - The onus was on the assessee to prove the transaction leading to claim of long-term capital gain was a genuine transaction. The assessee failed to justify manifold increase in the prices of the shares despite weak financials of the companies.....


TaxTMI