AdvertisementRamesh Meghraj Jain HUF Vs ITO (ITAT Mumbai) Mumbai ITAT Allows LTCG Exemption on Greencrest Shares; Investigation Wing Report Alone Cannot Dislodge Documentary Evidence The Mumbai ITAT allowed the appeal of the assessee-HUF and held that the exemption under Section 10(38) on long-term capital gains from sale of Greencrest Financial Services Ltd. shares could not be denied merely on the basis of the Investigation Wing’s report alleging penny stock manipulation. The Tribunal directed deletion of the additions made under Sections 68 and 69C. The Assessing Officer had rejected the assessee&...