The HC upheld that LTCG exempt u/s 10(38) should be included in ...

Exempt long-term capital gains taxable for MAT but not regular income if not in book profits.

December 26, 2024

Case Laws Income Tax HC

The HC upheld that LTCG exempt u/s 10(38) should be included in book profits for MAT computation u/s 115JB. However, proviso to s.10(38) cannot be read to include exempt LTCG in normal income if not included in book profits. The CIT(A) and ITAT rightly rejected Revenue's contention.

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The HC upheld that LTCG exempt u/s 10(38) should be included in ...

Exempt long-term capital gains taxable for MAT but not regular income if not in book profits.

December 26, 2024

Case Laws Income Tax HC

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