https://www.taxtmi.com/caselaws?id=774061 The Gujarat HC upheld ITAT's decision allowing the assessee to claim long-term capital gains tax at 10% under section 112(1)(c)(iii) on sale of subsidiary shares, despite originally offering gains at 20% under section 112(1)(c)(ii) in the return. The AO and CIT(A) had rejected the claim, requiring a revised return under sections 139(5) and 119. HC held the assessee was eligible for 10% tax rate due to retrospective amendment in Finance Act 2017, citing precedents that tribunals can consider new legal questions when relevant facts are on record, without restricting appellate powers under section 254. en-us Mon, 23 Jun 2025 00:00:00 +0530 Sat, 28 Jun 2025 10:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774061 The Gujarat HC upheld ITAT's decision allowing the assessee to claim long-term capital gains tax at 10% under section 112(1)(c)(iii) on sale of subsidiary shares, despite originally offering gains at 20% under section 112(1)(c)(ii) in the return. The AO and CIT(A) had rejected the claim, requiring a revised return under sections 139(5) and 119. HC held the assessee was eligible for 10% tax rate due to retrospective amendment in Finance Act 2017, citing precedents that tribunals can consider new legal questions when relevant facts are on record, without restricting appellate powers under section 254. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774061