Disallowance on account of loss on sale of live stock - assessee ...

Income Tax

January 13, 2016

Disallowance on account of loss on sale of live stock - assessee was unable to prove that it was carrying on any business activity or possessing livestock in physical form and, therefore, ld. CIT(A) was correct in holding that appellant had not carried out any business activity nor it had sold the buffaloes - AT

View Source

← Previous Next →

Disallowance on account of loss on sale of live stock - assessee ...

Income Tax

January 13, 2016

You may also like:

Disallowance of short term capital loss - creation of artificial loss - assessee appellants failed to discharge the onus, to prove the genuineness of the transactions of...

Disallowance of set-off loss on derivative trading - can not be held as loss from speculation business, simply because procedural mechanism has taken a long time to...

Disallowance of assessee’s claim for depletion of closing stock - sales to related parties - there was no justifiable reason for the AO to reject the said evidence and...

Unexplained source of cash deposits - source from sale of live stock - would be highly improbable that in the absence of the assessees anyone will take care of live...

Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

Long Term Capital Gains - claim of conversion of agriculture land into stock-in-trade - The assessee was required to disclose such lands as stock in trade in books of...

Disallowance of speculation loss - Explanation to Section 73 would apply even when entire business consists of purchase and sale of shares. - AT

Disallowance of Capital Loss on Sale of Shares - sale of shares due to the amalgamation of certain entities - The AO disallowed the loss, treating it as an artificial...

Sale tax paid on sales return - allegation of bogus sales - allowable business loss - When the factum of sales return has been proved in favour of the assessee and...

Exemption u/s 10(38) - bogus LTCG on purchase and sale of shares - disallowance brokerage expense - penny stock transaction - ssessee has successfully proved the...

Quick Updates: