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ITAT allows Section 54F exemption against LTCG on Share based on Intrinsic Value
Case Law Details
- Case Name
- ITO Vs Bipin Babubhai Panchal (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Ahmedabad
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ITO Vs Bipin Babubhai Panchal (ITAT Ahmedabad)
The Income Tax Appellate Tribunal (ITAT) in Ahmedabad recently adjudicated a significant case involving ITO Vs Bipin Babubhai Panchal. This appeal was filed by the Revenue against the order dated March 11, 2019, from the Commissioner of Income Tax (Appeals)-10, Ahmedabad, concerning the Assessment Year 2012-13. The case primarily centered around the computation of Long-Term Capital Gains (LTCG) and the valuation of shares of a Private Limited Company that was under liquidation.
Background of the Case
The Revenue raised several gro...
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