https://www.taxtmi.com/caselaws?id=394388 The Tribunal upheld the exemption under Section 10(23FB) for a Venture Capital Fund's capital gains from the sale of shares, emphasizing that subsequent listing due to corporate actions should not affect eligibility. The Tribunal also ruled that once exemption under Section 10(23FB) was granted, the question of Section 10(38) exemption became irrelevant. Notional interest on a loan was deemed exempt under Section 10(23FB) if actual interest income from other Venture Capital Undertakings was exempt. The Tribunal confirmed that the assessee, a contributory trust, should not be taxed on income already taxed in the hands of beneficiaries. en-us Wed, 29 Jan 2020 00:00:00 +0530 Fri, 10 Apr 2020 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394388 The Tribunal upheld the exemption under Section 10(23FB) for a Venture Capital Fund's capital gains from the sale of shares, emphasizing that subsequent listing due to corporate actions should not affect eligibility. The Tribunal also ruled that once exemption under Section 10(23FB) was granted, the question of Section 10(38) exemption became irrelevant. Notional interest on a loan was deemed exempt under Section 10(23FB) if actual interest income from other Venture Capital Undertakings was exempt. The Tribunal confirmed that the assessee, a contributory trust, should not be taxed on income already taxed in the hands of beneficiaries. Case-Laws Income Tax Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394388