TMI BlogBogus LTCG - exemption u/s.10(38) denied - the assessee submitted a letter withdrawing the LTCG claim...Bogus LTCG - exemption u/s.10(38) denied - the assessee submitted a letter withdrawing the LTCG claim u/s 10(38) and offered the same as income. Therefore, once the assessee had withdrawn her claim, now the assessee cannot claim the same as long term capital gain and the income in my opinion has to be treated as “income from other sources”. If the contention of the learned Counsel for the assessee that the same is to be allowed as LTCG is accepted, then the natural corollary will be to allow the..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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