Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
Page of 4809
Press 'Enter' after typing page number.
2241 to 2260 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT allowed the assessee's appeal, holding that the short-term capital loss of Rs.2,94,99,567 arising from sale of shares in the company (renamed during the year) was genuine trading loss and not a contrived adjustment entry. The Tribunal found the assessee to be a regular investor and trader in quoted and unquoted securities, noted supporting documentary evidence and prior trading activity, and rejected the AO's reliance on an external report characterising the scrip as penny stock without proper analysis of submitted records. Consequently the loss was held allowable for set-off against short-term capital gains and the additions made by the AO were deleted.
ITAT allowed the assessee's appeal, holding that the short-term capital loss of Rs.2,94,99,567 arising from sale of shares in the company (renamed during the year) was genuine trading loss and not a contrived adjustment entry. The Tribunal found the assessee to be a regular investor and trader in quoted and unquoted securities, noted supporting documentary evidence and prior trading activity, and rejected the AO's reliance on an external report characterising the scrip as penny stock without proper analysis of submitted records. Consequently the loss was held allowable for set-off against short-term capital gains and the additions made by the AO were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
