Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
The ITAT held that u/s 10(38), only long term capital gain from sale of shares/securities is exempt, not the entire source. Citing Royal Calcutta Turf Club case, it ruled that if a source is not excluded from charging section, only specific income is exempt. Loss from shares with STT can offset long term capital gain from unlisted shares. AO directed to allow set off. The decision emphasizes strict interpretation of law when only specific income is exempted.
The ITAT held that u/s 10(38), only long term capital gain from sale of shares/securities is exempt, not the entire source. Citing Royal Calcutta Turf Club case, it ruled that if a source is not excluded from charging section, only specific income is exempt. Loss from shares with STT can offset long term capital gain from unlisted shares. AO directed to allow set off. The decision emphasizes strict interpretation of law when only specific income is exempted.
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