Allahabad HC upholds assessee's deduction eligibility under Section 80IA for capital loss on share transfer

The Allahabad HC dismissed the appeal by the IT Tribunal in 2010, affirming the assessee's eligibility for deduction under Section 80IA for capital loss on share transfer treated as agricultural income. The appeal was rejected as no legal issue was identified.

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The Allahabad High Court dismissed the appeal by the Income-Tax Tribunal in 2010. The Tribunal found that the assessee suffered capital loss from transferring shares and was eligible for deduction under Section 80IA. The income was considered agricultural income. The appeal was dismissed as no question of law arose.

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