Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
