Tax Tribunal Upholds Taxpayer's Choice to Forego STT for Business Strategy, Not Tax Evasion, u/s 10(38.

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....Sale of long term shares - tax planning by not paying STT for not to claim exemption u/s 10(38) - The decision taken by the assessee to arrest the loss arising on account of liability to pay interest on the loan raised from BVHPL cannot be doubted. It is a business decision taken by the assessee to arrest the losses and the same cannot be called as colourable devise - AT....