Udaykumar Shah v. ITO (2024) Chamber’s Journal-March-P. 113 (Mum)(Trib)

S. 68 : Cash credits-Sale of shares-Comfort Fine cap Ltd-Penny stock-All documents produced-Capital gain is exempt from tax.[S. 10(38)), 45]

Held that the assesee has produced all documents in respect of sale of shares  of Comfort Fine cap Ltd hence the  sale consideration cannot be assessed as cash credits. The assessee is entitle to exemption in respect of capital gains.  (AY. 2014-15) (ITA No. 883/Mum/ 2023 dt. 7-2-2024)

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