Capital Invested to Purchase Shares of ‘Infrastructure Facility’ before June 1998 cannot be included in Total Income: Telangana HC

The Telangana High Court ruled that capital invested in purchasing shares of an infrastructure facility before June 1998 cannot be included in the total income for tax purposes. The case involved a taxpayer who had invested in shares of an infrastructure company and claimed that the investment should not be taxed. The court agreed, stating that the investment was made before the specified date and thus should not be included in the total income. This ruling provides clarity on the tax treatment of investments in infrastructure facilities and supports the view that such investments made before the cutoff date are exempt from taxation. The decision is expected to benefit taxpayers with similar investments.