Read all Latest Updates on and about Section 10(38) of the Income-tax Act

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Indusind Bank Share Transactions Explained, No Unexplained Cash Deposits: ITAT Quashes PCIT’s Revision u/s 263 [Read Order]

Akhaigha T Josh

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that the share transactions of the assessee were genuine and not bogus long...

ITAT directs Reconsideration of LTCG Claim owing to New Evidence including Cheque Transactions [Read...

NRI's Investment in Mutual Funds Held as Legitimate, ITAT Dismisses Revenue's Appeal [Read Order]

Supreme Court - Supreme Court of India - Supplementary Affidavit - Revenue to file Supplementary Affidavit - taxscan

Supreme Court Defers SLP Involving Alleged Rs.38,000 Crore Tax Evasion, calls on Revenue to file...

ITAT Exempts Penny Stock Transactions u/s 10(38) Due to STT Compliance, Denies AO’s Bogus...

Half Yearly Income Tax Digest: ITAT Rulings 2024 [Part IV]

This half-yearly round-up analytically summarizes the key direct tax decisions of the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the first half of 2024. Income from...

Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]

The Gauhati High Court ruled that the Non-disclosure of the Long Term Capital Gain from sale of shares does not affect revenue’s interest or cause any loss as it is exempted from Income Tax under...

ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) decision to uphold the genuine nature of Sunrise Asian share sales resulted in granting Long Term Capital Gain (LTCG) claims under Section...

ITAT direct to Allow Exemption u/s 10(38) of Income Tax Act only after verifying status of STT Payment [Read Order]

The two member bench of Income Tax Appellate Tribunal ( ITAT ) Delhi bench directed to allow exemption under section 10(38) of the Income Tax Act, 1961 only after verifying the status of STT payment....

LTCG from Sale of Equity Share of Penny Stock Companies listed with BSE is not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT ) Kolkata bench held that long Term Capital Gain (LTCG) from sale of equity shares of penny stock companies listed with Bombay Stock Exchange (BSE) is...

Exemption u/s 10(38) of Income Tax Act shall be denied when Assessee enters into Sham Transaction with Paper Companies: ITAT upholds Order of CIT(A) [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be denied when the assessee enters into a sham transaction...

Non-Response to Notices u/s 142(1): ITAT Imposes Cost of Rs. 10,000 on Foreign Portfolio Investor [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently upheld the imposition of a cost of Rs. 10,000 on a foreign portfolio investor (FPI) for failing to respond to notices issued...