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ITAT Mumbai Allows Section 10(38) Exemption on JMD Telefilms Share Sale
Case Law Details
- Case Name
- Anirudh Anil Gaggar Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Mumbai
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Anirudh Anil Gaggar Vs ITO (ITAT Mumbai)
The assessee appealed against the order dated 16.06.2025 passed by the National Faceless Appeal Centre (NFAC) for Assessment Year 2011-12. The appeal challenged the validity of the reassessment proceedings as well as the denial of exemption under Section 10(38) of the Income-tax Act, addition under Section 68 in respect of long-term capital gains arising from sale of shares of JMD Telefilms Ltd., and the addition of ₹3,54,250 under Section 69C towards alleged commission.
The assessee, an individual engaged in derivative trading and investment in share...
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