TARUN KUMAR GOYAL (HUF) ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD
In the result, both the appeals filed by the assessee are allowed
ITA 455/HYD/2020[2014-15]Status: DisposedITAT Hyderabad28 Jan 2025AY 2014-15
Bench: Shri Manjunatha. G & Shri K. Narasimha Chary
For Appellant: Shri P. Murali Mohan Rao, ARFor Respondent: Mrs. M. Narmada, CIT-DR
Section 10(38)Section 111ASection 143(3)
Gain (LTCG) on shares”.
3. It could be seen from the record that the assessee claimed an exemption under section 10(38) of the Act for the LTCG earned from selling shares of M/s. Kailash Auto Finance Limited (KAFL), a listed company. The total sale amount for the KAFL shares was 38,10,750/-, and the assessee