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Investor Cannot Be Denied Section 10(35) Exemption for Mutual Fund Violations: Pune ITAT
Case Law Details
- Case Name
- ACIT Vs Sabitha Subhash Cipy (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-2019
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ACIT Vs Sabitha Subhash Cipy (ITAT Pune)
Pune ITAT Upholds Exemption Under Section 10(35); Investor Cannot Be Denied Benefit for Alleged Violations by Mutual Fund
Summary: The Revenue appealed against the order of the Commissioner of Income Tax (Appeals) deleting an addition of ₹4,05,34,683 made after denying exemption under Section 10(35) on dividend income received from JM Financial Asset Management Ltd., while the assessee’s cross objections were withdrawn. The Assessing Officer had reopened the assessment, treated the dividend as ineligible for exemption, invoked Sect...
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