Case Overview Case Title: D.K. Brothers vs. Income Tax Officer (ITO)Court: Income Tax Appellate Tribunal (ITAT), MumbaiAppeal Number: ITA No. 2183/M/2023Date of Judgement: November 10, 2023Assessment Year: 2011-12 Introduction In a pivotal ruling, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has overturned the order issued by the National Faceless Appeal Centre (NFAC) in the case...
short-term capital gains
Capital gains in India refer to the profit earned from the sale of a capital asset, such as property, stocks, or mutual funds. The taxation on capital gains is a critical aspect of financial planning for individuals and businesses. This blog delves into the different types of capital gains, tax implications, exemptions, and key considerations for managing capital gains in India. What are Capital...