The Gauhati High Court has held that the long-term capital gains are exempt from income tax, and the non-disclosure while computing the long-term capital gains cannot result in causing prejudice to.
The Orissa High Court has held that the order passed by the Income Tax Appellate Tribunal (ITAT) dismissing the department’s appeal on the ground of the low tax effect is appealable before the High.
The Central Board of Direct Taxes (CBDT) has notified that the Department for Promotion of Industry and Internal Trade (DPIIT) recognized start-ups will not face verification on account of angel.