Capital Gains from CCL International Shares is genuine: ITAT Delhi

Gaurav Goel Vs ITO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) Delhi addressed the appeal in ITA No.369/Del/2019 for Assessment Year 2015-16. The appeal stemmed from the Commissioner of Income Tax (Appeals)-Ghaziabad’s order against an assessment by the Assessing Officer, ITO, Ward-1(2), Ghaziabad. The primary contention was the denial of exemption u/s 10(38) of the Income Tax Act, amounting to Rs 49,33,062. The appellant, an individual, purchased 12500 equity shares of CCL International Ltd and subsequently sold 9500 shares during the relevant year. The appellant claimed exemp...