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Income Tax - Highlights / Catch Notes

Home Highlights August 2012 Year 2012 This

Capital Loss - As long as the Revenue could not doubt the sale ...


Court Rules Revenue Can't Challenge Share Sale Price or Dispute Taxpayer's Reported Loss as Not Genuine.

August 31, 2012

Case Laws     Income Tax     HC

Capital Loss - As long as the Revenue could not doubt the sale price of the shares, it would not be open for the Revenue to contend that the assessee had shown loss which it did not really suffer - HC

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