2023 (9) TMI 1423

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..... unal has rightly accepted the claim of the assessee as per law regarding exemption under Section 10(38) with respect to alleged income under the head Long Term Capital Gain on sale of shares of penny stock by ignoring the admission by their group before the Income Tax Authority that complete tax would be paid on the bogus LTCG claimed by the group subsequent to survey operation under Section 133 .....

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..... in I.T.A No.212/CTK/2019 for the Assessment Year 2013-14. 5. After hearing learned counsel for the parties, this Court is of the view that the following substantial questions of law require consideration: I) Whether the learned Tribunal has rightly accepted the claim of the assessee as per law regarding exemption under Section 10(38) with respect to alleged income under the head Long Ter .....

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