Case Law Details
Case Name : Raunaq Prakash Jain Vs ITO (ITAT Jodhpur)
Related Assessment Year : 2021-22
Courts :
All ITAT ITAT Jodhpur
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Raunaq Prakash Jain Vs ITO (ITAT Jodhpur)
In the case of Raunaq Prakash Jain vs. ITO, the ITAT Jodhpur addressed the taxation of cryptocurrency gains for the assessment year 2021-22. The appellant, Raunaq Prakash Jain, had reported gains from Bitcoin sales as long-term capital gains (LTCG) and claimed deductions under Section 54F of the Income Tax Act. However, the assessing officer (AO) contested the classification, arguing that Bitcoin was not a “capital asset” under Section 2(14) for the relevant period and taxed the gains as “income from other sources.” The AO also ...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Author Bio
sir can i get your no becoz i have rcd same query in my 3 clients related to vertual currency & that i have to resolved