https://www.taxtmi.com/caselaws?id=459669 The HC allowed the appeal filed by the assessee, ruling in favor of the assessee on the substantial questions of law. The Court determined that Circular No.704 applies to both physical and dematerialized securities, contrary to the Tribunal's findings. It concluded that the date of acquisition for dematerialized shares should follow the guidelines set in Circular No.704, rather than when shares are entered into the D-mat account. The judgment reversed the Tribunal's decision, thereby granting capital gains exemption under section 10(38) of the Income Tax Act, 1961, for the assessee. en-us Fri, 17 Feb 2023 00:00:00 +0530 Mon, 20 Jan 2025 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459669 The HC allowed the appeal filed by the assessee, ruling in favor of the assessee on the substantial questions of law. The Court determined that Circular No.704 applies to both physical and dematerialized securities, contrary to the Tribunal's findings. It concluded that the date of acquisition for dematerialized shares should follow the guidelines set in Circular No.704, rather than when shares are entered into the D-mat account. The judgment reversed the Tribunal's decision, thereby granting capital gains exemption under section 10(38) of the Income Tax Act, 1961, for the assessee. Case-Laws Income Tax Fri, 17 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459669