Lack of Adverse observations by AO: ITAT allows long-term Capital Gain Exemption [Read Order]
The Bench examined additions under Section 68 and Section 69A of the Income Tax Act while reviewing the disallowance of Exemptions of long-term capital gains that were claimed by the Assessee.
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled in favor of an Assessee whose long-term capital gains exemption was disallowed by the Assessing Officer on the basis of uncorroborated evidence. The Appellant is a Hindu Undivided Family (HUF) who filed their Income Tax Returns on 30.07.2012, declaring a total income of…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
