Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
