![Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessee-Lawfully-Bound-Prove-Huge-Long-Term-Capital-Gain-Claims-to-be-Genuine-ITAT-TAXSCAN.jpg "Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]")
Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has denied exemption under Section 10(38) of the Income Tax Act 1961 holding that the...
![Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/for-LTCG-from-sale-of-equity-shares-before-assessment-proceedings-is-valid-ITAT-TAXSCAN.jpg "Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]")
![No Addition on Regular items which were Disclosed by Assessee in Regular Books of Account: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Regular-items-Books-of-account-ITAT-taxscan.jpg "No Addition on Regular items which were Disclosed by Assessee in Regular Books of Account: ITATÂ [Read Order]")
![Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Exemption-Disallowed-Transaction-Penny-Stock-ITAT-Income-Tax-Taxscan.jpg "Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]")
![Exemption u/s.10(38) for Long Term Capital Gain earned on Shares claimable only on Payment made through Cheque: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Long-Term-Capital-Gain-Payment-Cheque-ITAT-taxscan.jpg "Exemption u/s.10(38) for Long Term Capital Gain earned on Shares claimable only on Payment made through Cheque: ITAT [Read Order]")
Long Term Capital Gain from Sale of Equity Shares: ITAT denies Claim of Exemption u/s 10(38) [Read Order]
the Income Tax Appellate Tribunal (ITAT), Kolkata Bench denied claim of exemption under Section 10(38) of the Income Tax Act,1961 as there was long term capital gains from the sale of equity shares....
![Long Term Capital Gain from Sale of Equity Shares: ITAT denies Claim of Exemption u/s 10(38) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Long-Term-Capital-Gain-Sale-Equity-Shares-ITAT-taxscan.jpg "Long Term Capital Gain from Sale of Equity Shares: ITAT denies Claim of Exemption u/s 10(38) [Read Order]")
Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that interest expenses can’t be disallowed when assessee had own funds which was more than the investments yielded tax free income. ...
![Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]")
CBDT notifies List of Transaction Exempted from LTCG u/s 10(38) of Income Tax Act [Read Notification]
The Central Board of Direct Taxes (CBDT) today released the final Notification on section 10(38) of the Income Tax Act which exempts exempt specified deals from long-term Capital Gains Tax in cases...
![CBDT notifies List of Transaction Exempted from LTCG u/s 10(38) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2016/08/CBDT-Taxscan-2.jpg "CBDT notifies List of Transaction Exempted from LTCG u/s 10(38) of Income Tax Act [Read Notification]")
Genuine Equity Deals will not Attract Capital Gain Tax: CBDT invites Suggestions on Draft Notification of STT Chargeability Rules
With a view to curb tax evasion through "sham transactions" in stock market and protect genuine ones, the CBDT today proposed to exempt specified deals from long-term capital gains tax in cases where...