https://www.taxtmi.com/caselaws?id=221647 Transfer of listed equity shares was treated as exempt under section 10(38) because the asset was a long-term capital asset and the transaction was chargeable to securities transaction tax, satisfying the statutory conditions for exemption. The treaty-shopping objection did not displace the express exemption, and no illegality in the advance ruling was shown to warrant interference under Article 226. The ruling therefore remained undisturbed and the proposed transfer was not subjected to tax. en-us Wed, 27 Feb 2013 00:00:00 +0530 Fri, 31 Jan 2014 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221647 Transfer of listed equity shares was treated as exempt under section 10(38) because the asset was a long-term capital asset and the transaction was chargeable to securities transaction tax, satisfying the statutory conditions for exemption. The treaty-shopping objection did not displace the express exemption, and no illegality in the advance ruling was shown to warrant interference under Article 226. The ruling therefore remained undisturbed and the proposed transfer was not subjected to tax. Case-Laws Income Tax Wed, 27 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221647