Disallowance of short term capital Loss - the provisions of ...

Section 94(4) Income Tax Act: Bond Transactions Not Business Activity, Short-Term Capital Loss Disallowance Unjustified.

November 24, 2017

Case Laws Income Tax AT

Disallowance of short term capital Loss - the provisions of Sec.94(4) of the Act would apply only in cases where the assessee had carried on the transactions of purchase and sale of securities during the course of business and since the purchase and sale of the bonds in question was not a business activity, the provisions of Sec.94(4) of the Act was not applicable to the transaction. - AT

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Disallowance of short term capital Loss - the provisions of ...

Section 94(4) Income Tax Act: Bond Transactions Not Business Activity, Short-Term Capital Loss Disallowance Unjustified.

November 24, 2017

Case Laws Income Tax AT

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