Bitcoin taxation: Only Rs 33 lakh income tax liability on Rs 6.64 crore gain by selling Bitcoin for an Infosys employee, rules Jodhpur ITAT

Bitcoin is capital asset: Jodhpur ITAT recently ruled that an Infosys employee who purchased Bitcoin using his salary should pay capital gains tax at 20% rate and also claim section 54F tax exemption after he sold the Bitcoin for Rs 6.69 crore. The Income Tax Department wanted this person to pay 30% tax on that more than Rs 6 crore gains but lost the case. Curious to know why and which legal aspect this person used? Read below.