Surplus on Redemption of Treasury bill is to be taxed under Capital Gains: ITAT [Read Order]

Surplus on Redemption of Treasury bill is to be taxed under Capital Gains, rules ITAT

By Aiswarya Krishnadas - On January 23, 2024 11:37 am - 2 mins read

Treasury bill redemption tax - Income Tax - ITAT Mumbai - Capital gain - Surplus taxation on Treasury bill - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Surplus on Redemption of Treasury bill is to be taxed under Capital Gains. The Assessing Officer ( AO ) had observed that the assessee obtained a surplus amounting to Rs. 19, 26,772 on the redemption of Treasury bills during the relevant…

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