Penalty u/s 271 (1)(C) - purchasing the shares at higher price - The explanation is also accepted by the...

Penalty u/s 271 (1)(C) - purchasing the shares at higher price - The explanation is also accepted by the Tribunal that any attempt to purchase the shares in such bulk quantity directly from the open market could have resulted in increase in the price of shares on the stock exchange resulting into loss to the Assessee. - no penalty .....

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