Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (4) TMI 158 - AT - Income TaxAddition made u/s 68 of the Act – Unexplained cash credits - Claim u/s 10(38) of the Act – Held that:- The shares and mutual funds the LTCG on sale of shares comes to Rs.47,71,191 - the same has been claimed as exempt at Rs.46,27,742 - the claim has been denied only on the ground that it was not made through a revised return of income - The decision in Commissioner of Income Tax. Central-I Versus M/s. Pruthvi Brokers & Shareholders Pvt. Ltd. [ 2012 (7) TMI 158 - BOMBAY HIGH COURT] followed – thus, the AO is directed to allow the claim of exemption u/s.10(38) of the Act in respect of LTCG on sale of shares – Decided in favour of Assessee.
|