https://www.taxtmi.com/caselaws?id=767019 The Tribunal held that the long-term capital gain (LTCG) from the redemption of Market Linked Debentures is subject to a tax rate of 20% under section 112 of the Income Tax Act. It concluded that debentures do not qualify for the concessional 10% tax rate under section 112A, as the section specifically excludes debentures from its scope. The Tribunal dismissed the assessee's appeal, affirming the lower authorities' decision, and confirmed that the legislative intent of section 112A was to limit the preferential tax rate to certain specified securities, excluding debentures. en-us Wed, 05 Mar 2025 00:00:00 +0530 Sat, 08 Mar 2025 08:32:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767019 The Tribunal held that the long-term capital gain (LTCG) from the redemption of Market Linked Debentures is subject to a tax rate of 20% under section 112 of the Income Tax Act. It concluded that debentures do not qualify for the concessional 10% tax rate under section 112A, as the section specifically excludes debentures from its scope. The Tribunal dismissed the assessee's appeal, affirming the lower authorities' decision, and confirmed that the legislative intent of section 112A was to limit the preferential tax rate to certain specified securities, excluding debentures. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767019