The  Assessing Officer disallowed exemption claimed by assessee under section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accomodation of LTCG. The Tribunal deleted the addition. On appeal High Court affirmed the order of the Triunal on the ground that  there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report.   Tribunal also relied on  various judgements of lucknow Benches  wherein the Tribunal relied on Judgemnt of Delhi High Court in Krishan Devi.(ITA No. 205 of 2020 dt. 6-7-2022 (Luccknow Bench) (Trib) (SMC)   (AY. 2014-15)