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2015 (2) TMI 1127 - AT - Income TaxLong Term Capital Loss - CIT(A) allowed the claim - Held that:- As sale and purchase of share was done through cheques and transfer of shares was properly supported by the transfer deeds and complete formalities were done by the issuing company in respect of allotment of shares and transfer of shares. Nothing adverse was brought by the Assessing Officer except his belief that assessee is not expected to sell shares below the book value Section 48 clearly states that for the purpose of calculation of capital gain of shares, it is only the sum received which can be considered for calculation of capital gain. In view of the above, we are of the considered opinion that the Ld. CIT(A) has rightly considered the loss declared by assessee. In view of the above, we do not see any reason to interfere in the order of Ld. CIT(A) - Decided against revenue
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