Applicability of section 94(7) - loss from units which were ...

Income Tax

May 17, 2014

Applicability of section 94(7) - loss from units which were held for more than three months after the record date and sold thereafter cannot be subjected to disallowance as per the amended provision of section 94(7) - AT

View Source

← Previous Next →

Applicability of section 94(7) - loss from units which were ...

Income Tax

May 17, 2014

You may also like:

Loss claimed as business loss - As all the three conditions of section 94(7) are not fulfilled, loss of sale of securities to the extent of dividend income cannot be...

Transactions in securities - for application of sub-section 7 of section 94 all the three conditions mentioned in clauses (a), (b) and (c) thereof must be cumulatively...

Line trading in shares - speculative transaction - The period of three months reckoned from the date of purchase of the units on 26.12.2003, would expire on 26.3.2004 -...

The Parliament has not only used two different terms namely “securities” and “units” in Section 94(7)(b)(i) and 94(7)(b)(ii) but has dealt with them separately providing...

Penalty u/s. 271(1)(c) - inadvertent omission of not excluding the short term loss u/s. 94(7) - AO has completed the assessment on the basis of details furnished by the...

Disallowance of short- term capital loss - When the incident of tax being sale of units occurred prior to the introduction of the bill proposing the amendment in...

MAT - Addition of Book Profits u/s 115JB – Dividend Stripping u/s 94(7) - The Explanation (f) of Section 115JB was clearly applicable in case of the appellant - AT

Speculation loss disallowed – If the assessee has actually taken delivery of pepper and thereafter sold it, then the provisions of sec. 43(5) cannot be applied- AT

Denial of carry forward of long term capital loss - When the he taxed the difference in amount under short term capital gain and also disallowed short term capital loss...

Section 94(8) as retrospective in operation or prospective - Dividend stripping in buying and selling of shares and units - Avoidance of tax by certain transactions in...

Quick Updates: