https://www.taxtmi.com/caselaws?id=376459 The Tribunal granted the stay of demand amounting to Rs. 2,64,67,23,090, out of a total demand of Rs. 2,89,67,23,090, subject to conditions including the deposit of an additional Rs. 25,00,00,000 by a specified date. The dispute over the disallowance of exemption under section 10(38) concerning gain/profit on the sale of investments was upheld by the CIT(A) based on amendments by the Finance Act, 2010. The amendment to Rule 5(b) post the Finance Act, 2010, specifying gains from the sale of investments to be added to taxable income, was a focal point of contention. The Revenue argued for a deposit of 50% of the outstanding demand before granting any stay, emphasizing tax liability on gains from the sale of securities/investments. en-us Wed, 06 Mar 2019 00:00:00 +0530 Sat, 09 Mar 2019 07:51:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376459 The Tribunal granted the stay of demand amounting to Rs. 2,64,67,23,090, out of a total demand of Rs. 2,89,67,23,090, subject to conditions including the deposit of an additional Rs. 25,00,00,000 by a specified date. The dispute over the disallowance of exemption under section 10(38) concerning gain/profit on the sale of investments was upheld by the CIT(A) based on amendments by the Finance Act, 2010. The amendment to Rule 5(b) post the Finance Act, 2010, specifying gains from the sale of investments to be added to taxable income, was a focal point of contention. The Revenue argued for a deposit of 50% of the outstanding demand before granting any stay, emphasizing tax liability on gains from the sale of securities/investments. Case-Laws Income Tax Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376459