https://www.taxtmi.com/highlights?id=97197 The article examines denial of trust exemption where purchases of shares from specified persons may trigger prohibition; it explains that the prohibition applies only if the trust purchased shares directly from persons who held a substantial interest (defined by control of about 20% voting power) or through entities controlled by them. The tribunal found sellers did not possess such substantial interest or control, noted the Assessing Officer conflated distinct provisions, and concluded the prohibition was inapplicable; the appeal by the trust was allowed. en-us Thu, 26 Feb 2026 07:35:37 +0530 Thu, 26 Feb 2026 07:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97197 The article examines denial of trust exemption where purchases of shares from specified persons may trigger prohibition; it explains that the prohibition applies only if the trust purchased shares directly from persons who held a substantial interest (defined by control of about 20% voting power) or through entities controlled by them. The tribunal found sellers did not possess such substantial interest or control, noted the Assessing Officer conflated distinct provisions, and concluded the prohibition was inapplicable; the appeal by the trust was allowed. Highlights Income Tax Thu, 26 Feb 2026 07:35:37 +0530 https://www.taxtmi.com/highlights?id=97197