ASSTT COMMISSIONER OF INCOME TAX VERSUS SHRI RANJITSINGH D BINDRA - Income Tax - ITAT MUMBAI - Tri - Sale and Purchase of shares, not a bogus transactions Income arising from purchase and sale of shares chargeable under head Long term capital gains and not an undisclosed income - Shares were purchased as penny stocks at low price of 55 paise per share and the same were claimed to have been sold at Rs.40 per share and thereby the assessee has shown Long term capital gains of Rs.29,09,675 He................................... Income Tax - Case Laws
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