https://www.taxtmi.com/caselaws?id=347806 The Tribunal allowed the appeal for statistical purposes, emphasizing the withdrawal of exemption under Section 10(23C)(VI) of the Income Tax Act was a harsh step. The decision directed reconsideration by the CIT(E) to convert shares into specified assets within a specified period, withdrawing exemption temporarily for income from non-specified assets. This aimed to provide the assessee with an opportunity to rectify non-compliance while upholding the taxability of income from non-specified assets, stressing the significance of adhering to specified investment modes and the authority's ability to withdraw exemptions for non-compliance. en-us Thu, 13 Jul 2017 00:00:00 +0530 Tue, 12 Sep 2017 08:43:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347806 The Tribunal allowed the appeal for statistical purposes, emphasizing the withdrawal of exemption under Section 10(23C)(VI) of the Income Tax Act was a harsh step. The decision directed reconsideration by the CIT(E) to convert shares into specified assets within a specified period, withdrawing exemption temporarily for income from non-specified assets. This aimed to provide the assessee with an opportunity to rectify non-compliance while upholding the taxability of income from non-specified assets, stressing the significance of adhering to specified investment modes and the authority's ability to withdraw exemptions for non-compliance. Case-Laws Income Tax Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347806