Revision Order on LTCG Exemption Passed Against Buyer of Non-Existing Seller: Delhi HC Quashes Revision Order [Read Order]

Delhi High Court - Long Term Capital Gain - LTCG Exemption- LTCG - TAXSCAN

The Delhi High Court quashed the revision order and held that a revisionary order under Section 263 of the Income Tax Act, 1961 could not be passed against a non-existing seller entity. The Long Term Capital Gain (LTCG) exemption passed against the buyer of non existing seller. The appellant/revenue challenged the order dated 19.12.2022 passed…

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