Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (4) TMI 180 - HC - Income TaxAssessee had shares in subsidiary company – subsidiary company was ordered to be wound up – held that once a company had been ordered to be wound up, there is no question of any party dealing in the shares of that company – mere fact that shares were not sold was of no significance – in fact the shares could no have been sold – tribunal was right in holding that shares were stock-in-trade and had therefore allowed the loss – loss had to be treated as trading loss – deduction allowed
|