S.10(23G) IT Act | Capital Invested To Purchase Shares Of 'Infrastructure Facility' Before June 1998 Can't Be Included In Total Income: Telangana HC

The Telangana High Court held that investments made before June 1998 in purchasing shares of infrastructure facilities cannot be considered income under Section 10(23G) of the Income Tax Act. The court clarified that capital invested before the provision’s introduction is exempt from taxation, even if the gains are realized later. This ruling provides clarity for entities that invested in infrastructure before the 1998 amendment, ensuring such investments aren’t retroactively taxed.