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Section 2635 Section 14A4 Section 143(3)3

CAREER POINT LIMITED,KOTA, RAJASTHAN vs. PRINCIPAL COMMISSIONER OF INCOME TAX, UDAIPUR, RAJASTHAN

In the result, the appeal of the assessee is allowed

ITA 242/JPR/2023[2018-19]Status: DisposedITAT Jaipur22 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Vijay Goyal, CA &For Respondent: Shri Ajey Malik (CIT)

Section 143(2)Section 143(3)Section 14ASection 263

capital gains under Section 10(38) on sale of UTI TRANSPORTATION AND LOGISTICS FUND which was purchased out of owned funds as assessee was having availability of ample of owned funds. So, no borrowing cost has been incurred towards purchase of this UTI TRANSPORTATION AND LOGISTICS FUND and other investments which may generate exempt income. Reliance is placed