Disallowance of loss - sale of shares - This is a lacuna in the ...

Case Laws Income Tax

April 4, 2016

Disallowance of loss - sale of shares - This is a lacuna in the provision which has been lawfully exploited by the assessee by transferring shares held as long-term capital assets through off market transactions resulting into genuine loss and thus escaping the rigor of the exemption provision contained in section 10(38), which would have otherwise disentitled it to claim set off and carry forward of such a loss - AT

View Source

← Previous Next →

Disallowance of loss - sale of shares - This is a lacuna in the ...

Case Laws Income Tax

April 4, 2016

You may also like:

The assessee, a professional stock broker, claimed loss on trading of shares which was disallowed by the Assessing Officer (AO) on the grounds that the trades were not...

Disallowance of loss on sale of shares being stock in trade - The transaction in question, since was not related to the business activity of the assessee, therefore, the...

Disallowance of Capital Loss on Sale of Shares - sale of shares due to the amalgamation of certain entities - The AO disallowed the loss, treating it as an artificial...

Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

Loss on sale of investment - bonafide loss or not? - As the assessee did purchase the shares from M/s. GRPL and have actually sold the shares and the shares have been...

Disallowance of loss on sale of shares of associated concern - speculation loss - only the loss resulting from the activity of sale and purchase of shares of other...

Valuation loss treated as speculation loss - It is a fact that shares traded by the assessee were not of any of the good companies. The assessee had in the normal course...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Disallowance of short term capital loss - creation of artificial loss - assessee appellants failed to discharge the onus, to prove the genuineness of the transactions of...

Nature of loss - Business loss or Speculation loss - transactions in purchase and sale of shares settled otherwise than the actual delivery - the said loss is computed...

Loss incurred by the assessee in purchase and sale of shares - Whether a business loss or speculation loss? - In case, the assessee has earned profit from share trading...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

Nature of loss from purchase and sale of share - speculation or non speculation loss - ITAT held that deployment of funds in the instant case is more in the business of...

Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

Disallowance of short term capital loss on sale of shares - sale of share was effected between two group companies having the same directors about the shares of the...

Quick Updates: