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    July 29, 2026   Case Laws Income Tax
    Continuing new tax regime option remains effective despite an incorrect first-year declaration in a later return.
    July 29, 2026   Case Laws Income Tax
    Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain deductible.
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    July 29, 2026   Case Laws GST
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    July 29, 2026   Case Laws Income Tax
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    July 29, 2026   Case Laws Customs
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    July 29, 2026   Case Laws Companies Law
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    July 29, 2026   Case Laws IBC
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    July 29, 2026   Case Laws Service Tax
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    July 29, 2026   Case Laws Indian Laws
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    July 29, 2026   Case Laws Indian Laws
    Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offences.
    July 28, 2026   Notifications SEZ
    SEZ area de-notification reduces the notified Information Technology zone at Pallipuram, leaving a revised notified area.
    July 28, 2026   Notifications SEZ
    SEZ de-notification rescinds the IT and IT-enabled services zone notification while preserving prior actions and omissions.
    July 28, 2026   Notifications Income Tax
    Form ITR-BN governs block-period returns after covered searches, requiring prescribed verification and treatment of provisional income.
    July 28, 2026   Circulars Customs
    Digital Section 49 warehousing enables online applications, query responses, status tracking and renewable storage-period extensions through ICEGATE.
    July 28, 2026   Case Laws GST
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    July 28, 2026   Case Laws GST
    Mandatory penalty-order timelines for detained goods require strict compliance, making delayed orders vulnerable to being quashed.

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      Home› Highlights › Income Tax › 2018 › November, 2018 › This
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      Income Tax

      There was a genuine transaction of purchase and sale of shares...

      Long Term Capital Gain from Share Sale Exempt from Tax u/s 10(38), Not Taxable u/s 68.

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      Income TaxNovember 9, 2018Case LawsAT
      There was a genuine transaction of purchase and sale of shares on which assessee has earned Long Term Capital Gain, and therefore, such Long Term Capital Gain cannot be taxed u/s. 68. Since Long Term Capital Gain is exempted u/s. 10(38), therefore, no addition is called for
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