Tax treatment of business trust units expanded to qualify for equity oriented fund capital gains rules with a specified exclusion. Amendment inserts 'or a unit of a business trust' into sub section (1) of section 111A to extend equity oriented fund treatment to business trust units, and adds a proviso excluding income from transfer of business trust units that were acquired by the assessee in consideration of a transfer falling within the statute's specified transfer consideration provision.
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Provisions expressly mentioned in the judgment/order text.
Tax treatment of business trust units expanded to qualify for equity oriented fund capital gains rules with a specified exclusion.
Amendment inserts "or a unit of a business trust" into sub section (1) of section 111A to extend equity oriented fund treatment to business trust units, and adds a proviso excluding income from transfer of business trust units that were acquired by the assessee in consideration of a transfer falling within the statute's specified transfer consideration provision.
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