Tax Exemption Denied: Artificially Inflated Share Prices Lead to Rejection of Section 10(38) Claim for LTCG.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Bogus LTCG - Long Term Capital Gain on sale of listed equity share exempt u/s 10(38) - Company has a meager turnover and minuscule profit. The regulators conducted the enquiry and found that the price of this company has been rigged. - The statement of the assessee itself did not give any credence to the mere documentary evidences produced by. - Additions confirmed - AT....