{"id":59015,"date":"2026-03-25T12:48:14","date_gmt":"2026-03-25T07:18:14","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-divyaben-prafulchandra-parmar-2025-304-taxman-512-sc-editorial-pcit-v-divyaben-prafulchandra-parmar2024-169-taxmann-com-473-gujhc\/"},"modified":"2026-03-25T12:48:14","modified_gmt":"2026-03-25T07:18:14","slug":"pcit-v-divyaben-prafulchandra-parmar-2025-304-taxman-512-sc-editorial-pcit-v-divyaben-prafulchandra-parmar2024-169-taxmann-com-473-gujhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-divyaben-prafulchandra-parmar-2025-304-taxman-512-sc-editorial-pcit-v-divyaben-prafulchandra-parmar2024-169-taxmann-com-473-gujhc\/","title":{"rendered":"PCIT v. Divyaben Prafulchandra Parmar (2025) 304 Taxman 512 (SC) Editorial : PCIT v. Divyaben Prafulchandra Parmar(2024) 169 taxmann.com 473 (Guj)(HC)"},"content":{"rendered":"<p><strong>\u00a0<\/strong><\/p>\n<p>Assessee sold shares of a company and claimed sale proceeds as exempt under section 10(38).\u00a0 Assessing Officer on basis of information received from investigation wing, treated same as unexplained income under section 68 holding that transaction was sham to route unaccounted money to give it colour of genuine transaction. Tribunal held that assessee had held shares for two and half years and same were sold through recognized stock exchange after paying securities transaction tax and that assessee had submitted numerous details of company whose shares were sold by her.\u00a0 Tribunal allowed the exemption. High Court held that no question of law much less any substantial question of law arose from impugned order passed by Tribunal.\u00a0 SLP filed by revenue\u00a0 was delay of 292 days. Revenue could not explain satisfactority delay. SLP was dismissed. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits-Sale of shares-Information received from investigation wing- Sold through recognised stock exchange-Paid Security transaction- Delay of 292 days-SLP dismissed-Delay was not satisfactorily explained. [S. 10(38), 45, Art. 136]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-59015","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-flR","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=59015"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59015\/revisions"}],"predecessor-version":[{"id":59016,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59015\/revisions\/59016"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}