https://www.taxtmi.com/highlights?id=72468 Correct head of income - Sale of Investment in Shares (ARLIC) - We have gone through the provisions of Section 28(va) and Section 28(iv) invoked by the revenue authorities. The assessee has invested the amount for acquiring 44% stake in the ARLIC and sold the same. Hence, it cannot be said that there is sale of business as the assessee do not own the 100% stake in ARLIC. The receipts be taxed under the head “capital gains” after giving due indexation - AT en-us Tue, 10 Oct 2023 11:49:09 +0530 Tue, 10 Oct 2023 11:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72468 Correct head of income - Sale of Investment in Shares (ARLIC) - We have gone through the provisions of Section 28(va) and Section 28(iv) invoked by the revenue authorities. The assessee has invested the amount for acquiring 44% stake in the ARLIC and sold the same. Hence, it cannot be said that there is sale of business as the assessee do not own the 100% stake in ARLIC. The receipts be taxed under the head “capital gains” after giving due indexation - AT Highlights Income Tax Tue, 10 Oct 2023 11:49:09 +0530 https://www.taxtmi.com/highlights?id=72468