2018 (7) TMI 2007 - SCH - Income Tax

Income from sale of shares - business income or capital gain - Capital Gains - Exemption u/s. 10(38) - majority of the shares were not purchased by the settler from the market and whether the shares received by way of Employee Stock Option Plan or purchased from the market, were held by the settler for a long period of time - shares in question were not purchased by the Trust at all. They were settled by the settler of the Trust. The Settler himself had not purchased majority of these shares but had received by way of Employee Stock Option Plan - HELD THAT - SLP dismissed.

Summary

The Supreme Court dismissed the special leave petition after condoning the delay. The pending application was disposed of. (Case citation: 2018 (7) TMI 2007 - SC)