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of <h1>Delhi High Court Rules Mutual Fund Redemption Gains as Capital Gains, Clarifies Deemed Dividends Under Income-tax Act 1961.</h1> The Delhi High Court's 2024 judgment in case 2024 (1) TMI 761 addresses key issues in Indian income tax law, focusing on the classification of mutual fund redemption gains and the interpretation of deemed dividends under the Income-tax Act, 1961. The court examined whether such gains should be treated as business income or capital gains, ultimately siding with appellate authorities to classify them as capital gains. Additionally, the court rejected the assessing officer's classification of certain capital contributions as deemed dividends, emphasizing the need for a genuine transaction basis. This judgment provides critical guidance for taxpayers and practitioners on these complex tax issues.
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