Long-term Capital Gain from a Penny Stock With 3072% Profit is Bogus and Sham Transaction: ITAT

 

Long-term Capital Gain from a Penny Stock With 3072% Profit is Bogus and Sham Transaction: ITAT

Coming down heavily on a taxpayer for what can be termed as ‘sham’ long-term capital gain (LTCG) transactions, the Delhi bench of Income Tax Appellate Tribunal (ITAT) said the jump in the share price …

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