ITAT can’t remand matter back to AO without finding error in approach followed by AO: HC

INCOME TAX : Where Assessing Officer examined and disallowed exemption claimed by assessee under section 10(38) in respect of long-term capital gains arising out of sale of shares on ground that company in which assessee invested was a penny stock company, Tribunal, without finding an error in approach of Assessing Officer could not have remanded back matter to Assessing Officer for fresh consideration

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