Profit from sale of bitcoin before April 1, 2022, taxable as capital gains: ITAT

The Jodhpur Income Tax Appellate Tribunal (ITAT) has ruled gains from the sale of bitcoin before April 1, 2022, are taxable as capital gains and eligible for exemption under Section 54F of the Income Tax Act.

The tribunal’s decision came in response to an appeal by an assessee who had declared ₹1.74 crore in total income for AY 2021-22, including long-term capital gains from the sale of bitcoin.