https://www.taxtmi.com/caselaws?id=312864 Claim of exemption for long term capital gains on shares in a revised return was examined; tribunal and appellate authority found the assessee entitled to correct the return and to claim the exemption where purchases were by account payee cheques and shares held in demat over 12 months, and the AO had not noted the relevant CBDT circular permitting revised returns. The challenge to revenue actions during a survey, including denial of crossexamination of entry providers, was held to breach principles of natural justice and go to the root; on that basis the appellate bodies' acceptance of the claim was upheld and the revenue appeal dismissed. en-us Thu, 09 Feb 2023 00:00:00 +0530 Tue, 03 Feb 2026 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312864 Claim of exemption for long term capital gains on shares in a revised return was examined; tribunal and appellate authority found the assessee entitled to correct the return and to claim the exemption where purchases were by account payee cheques and shares held in demat over 12 months, and the AO had not noted the relevant CBDT circular permitting revised returns. The challenge to revenue actions during a survey, including denial of crossexamination of entry providers, was held to breach principles of natural justice and go to the root; on that basis the appellate bodies' acceptance of the claim was upheld and the revenue appeal dismissed. Case-Laws Income Tax Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312864