Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The ITAT upheld the CIT(A)'s order allowing the assessee's claim for exemption u/s 10(34A) and taxation of Long Term Capital Gains (LTCG) at the special rate u/s 112. The ITAT rejected the AO's disallowance of exemption claimed u/s 10(34A) and treatment of LTCG as income from other sources, denying the benefit of Section 112. The ITAT found no infirmity in the CIT(A)'s well-reasoned order based on facts and law, concluding that the assessee met the conditions for Section 10(34A) exemption and was entitled to the concessional tax rate on LTCG u/s 112. The Revenue's appeal was dismissed on both counts.
The ITAT upheld the CIT(A)'s order allowing the assessee's claim for exemption u/s 10(34A) and taxation of Long Term Capital Gains (LTCG) at the special rate u/s 112. The ITAT rejected the AO's disallowance of exemption claimed u/s 10(34A) and treatment of LTCG as income from other sources, denying the benefit of Section 112. The ITAT found no infirmity in the CIT(A)'s well-reasoned order based on facts and law, concluding that the assessee met the conditions for Section 10(34A) exemption and was entitled to the concessional tax rate on LTCG u/s 112. The Revenue's appeal was dismissed on both counts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
