https://www.taxtmi.com/caselaws?id=431687 The Bombay High Court held that the petitioner failed to substantiate exempt income from the sale of listed shares under Section 10(34) of the Income Tax Act. Despite temporary stay granted by the CIT(A), the petitioner's request for extension was denied, with a direction to pay 20% of the disputed amount. The court acknowledged the petitioner's additional evidence efforts and stayed recovery pending appeal resolution, emphasizing timely decision-making. The court cautioned against delay tactics and highlighted the need for proper documentation and compliance with Rule 46A. en-us Fri, 16 Dec 2022 00:00:00 +0530 Mon, 27 Feb 2023 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431687 The Bombay High Court held that the petitioner failed to substantiate exempt income from the sale of listed shares under Section 10(34) of the Income Tax Act. Despite temporary stay granted by the CIT(A), the petitioner's request for extension was denied, with a direction to pay 20% of the disputed amount. The court acknowledged the petitioner's additional evidence efforts and stayed recovery pending appeal resolution, emphasizing timely decision-making. The court cautioned against delay tactics and highlighted the need for proper documentation and compliance with Rule 46A. Case-Laws Income Tax Fri, 16 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431687