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Income Tax - Highlights / Catch Notes

Home Highlights November 2011 Year 2011 This

Revenue loss or capital loss - the remarks of the auditors ...


Tribunal Fails to Address Auditor Remarks; Loss from Sale of Investment Shares Deemed Capital, Not Revenue.

November 23, 2011

Case Laws     Income Tax     HC

Revenue loss or capital loss - the remarks of the auditors become relevant and could not be brushed aside so conveniently as has been done by the Tribunal. - shares in question were held as investments and loss on the sale thereof was capital loss and not Revenue loss..... - HC

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