Allegation of Price Manipulation on Purchase and Sale of Shares on Stock Exchange through SEBI: ITAT deletes Addition u/s 68 and Disallowance of Exemption of LCG [Read Order]

By Fathima Karama A.M - On September 19, 2023 6:00 pm - 2 mins read
Allegation of Price Manipulation on Purchase and Sale of Shares on Stock Exchange through SEBI - ITAT- Disallowance of Exemption of LCG - TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 68 of the Income Tax Act 1961, and disallowance of Long-term Capital Gains (LCG) the allegation of price manipulation was against the purchase and sale of shares made through Securities and Exchange Board of India (SEBI). The assessee,Poornima Ramesh Shenoy…

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