Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Change in Section for Claiming Exemption cannot be considered as Fresh Claim: ITAT allows LTCG Exemption u/s 10(38) to
Financial PlanningIncome Tax
The Income Tax Appellate Tribunal (ITAT) allowed a trust to claim Long-Term Capital Gains (LTCG) exemption under Section 1038, despite changes in the section for claiming exemptions. The tribunal ruled that the change in the section does not constitute a fresh claim but rather an application of existing provisions. This decision clarifies the applicability of tax exemptions and reinforces the principles guiding claims under evolving tax regulations.
