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2013 (7) TMI 363 - ALLAHABAD HIGH COURTSet off of short term capital loss - Transaction in shares - Tribunal denied set off of short term capital loss being bogus - Held that:- Assessee made no payment for the purchase of the shares - There was no actual delivery taken by the assessee at any point of time in respect of the shares on which the assessee has claimed the alleged short term capital loss - When neither any payment was made nor any delivery was taken, then the transaction can not be held genuine specially when there was no DEMET Accounting System during the assessment year under consideration - Decided against assessee.
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