NISHANT PAREKH- LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD-1(3), JAMNAGAR
In the result, the appeal of the assessee is allowed
ITA 215/RJT/2025[2015-16]Status: DisposedITAT Rajkot14 Oct 2025AY 2015-16
Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.215/Rjt/2025 "नधा"रणवष" / Assessment Year: (2015-2016) Nishant Parekh – Legal Heir Of Vs. Income Tax Officer Mina Parekh Aaykar Bhavan 322 Madhav Square, Opp 361001, Gujrat Avantika Complex, Limda Lane Road, Gujrat-361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (Appellant) (Respondent)
For Appellant: Shri Sagar Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 10(38)Section 115BSection 147Section 250Section 68
56(2)(viia) of the Act. The assessee received the bogus long term capital gain (LTCG) and that is why, section 10(38) of the Act, by way of insertion of third proviso whereby the transactions in long term capital gain (LTCG) would be exempted only in those cases where the transactions were subjected to Securities
Transaction
