LTCG on Market Linked Debentures Taxable at 20% under Sec 112: ITAT Bangalore 

Doraiswami Rajagopalan Vs DCIT (ITAT Bangalore)

The issue before the ITAT Bangalore was whether the long-term capital gain (LTCG) arising from the redemption of Market Linked Debentures (MLDs) should be taxed at the concessional rate of 10% under Section 112A of the Income Tax Act, 1961, or at 20% under Section 112, as applied by the Assessing Officer (AO).

Brief Facts:

• The assessee, an individual, earned an LTCG of ₹1,95,850 from the redemption of MLDs during the relevant financial year.
• The assessee paid tax at 10% on the LTCG, believing it to be co

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