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Income Tax - Highlights / Catch Notes

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Genuineness of loss from trading of shares - The time gap ...

Income Tax

Genuineness of loss from trading of shares - The time gap involved between purchase and sale of shares is more than one year and shares were demated. In the circumstances, the transactions cannot be held as "not genuine" merely based on suspicion. Suspicion however, be strong cannot take the place of proof. - AT

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