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<h1>High Court rejects Income-tax Tribunal's query on short term capital loss allowance for assessment year 1975-76</h1> The High Court of Delhi declined to answer a question referred by the Income-tax Appellate Tribunal regarding the allowance of a short term capital loss ... Loss, No Question of Law Arises, Short-term Capital Loss The High Court of Delhi declined to answer a question referred by the Income-tax Appellate Tribunal regarding the allowance of a short term capital loss of Rs. 2,62,658 in the assessment year 1975-76. The Tribunal determined that the loss should be allowed in 1975-76, based on the last payment made in January 1974. The Court found the conclusion to be factual and not a question of law.