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        Case ID :
        Income Tax

        Short term capital loss cannot be disallowed merely due to...

        Short-term capital loss from selling shares valid. Intervening transactions can't be ignored. Buying loss-making firm's shares for turnaround legit.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Short term capital loss cannot be disallowed merely due to shares being sold at a loss within a short span after acquisition. An intervening legal transaction cannot be ignored based on assumptions about motive. Purchase of loss-making company's shares with intent to improve performance is a valid business decision. Fair market value provisions for unquoted shares u/s 50CA are applicable only from AY 2018-19 onwards. For earlier years, actual consideration received is the full value of consideration u/s 48 for computing capital gains/loss. Disallowance of short term capital loss was unjustified and deserves deletion.
                                Note: It is a system-generated summary and is for quick reference only.
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