Tax Exemption Denied for Long-Term Capital Gains on Shares; Bogus Transactions Revealed, Section 10(38) Inapplicable.

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....Long Term Capital Gain - denial exemption u/sec 10(38) - purchase and sale of shares and astronomical increase of share price of LD&PL which led to returns at 350%, in our opinion, is unjustified. - assessee is the beneficiary of bogus transactions by accommodation entries - the assessee is not entitled to claim exemption u/s.10(38)....