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Case Law Details

Case Name : ITO Vs Bipin Babubhai Panchal (ITAT Ahmedabad)
Related Assessment Year : 2012-13
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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

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