ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]
The assessee/Legal Heir contented that transactions of sale of shares of Sunrise Asian were genuine transactions undertaken during normal course by the Assessee who had knowledge of the stock-market and had been making investments in shares since many years.
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 10(38) of the Income Tax Act. Brief facts are that the assessee of an individual had filed her return of income for AY….
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
