Artificial capital gains loss - colourable device to evade tax - ...

Income Tax

October 20, 2023

Artificial capital gains loss - colourable device to evade tax - Allegation of transfer of agricultural land to LLP to generation artificial loss to set off with capital gain - LLP created after conversion of Limited Company into LLP - The capital losses said to have been incurred by the assessee are only notional and introduced artificially. Authorities below rightly disallowed the same. - AT

View Source

← Previous Next →

Artificial capital gains loss - colourable device to evade tax - ...

Income Tax

October 20, 2023

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...

Capital gain - transfer of business - what has been done by the assessee is to evade tax and not to avoid. .... - HC

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

Genuineness of sale price of shares - transfer of same share at different price - a much higher price in the hands of Empee Sugars & Chemicals Ltd., was undoubtedly to...

Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

Computation of Long Term Capital Gains - There is nothing on record to substantiate the allegation of intention to avoid tax in the guise of transfer of shares....

Long term capital loss - The transactions carried by assessee are valid in law, cannot be treated as non-est merely on the basis of some economic detriment or it may be...

Quick Updates: