S. 10(38) : Long term capital gains from equities – Business income or capital gains-Two portfolios viz., investment portfolio and trading portfolio –Sale of shares from investment portfolio is entitle to exemption.[S.28(i), 45]
ITO v. Nirmal Kotecha (2023) 200 ITD 52 / 102 ITR 60 (SN )(Mum)(Trib)