Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
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.
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.
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