https://www.taxtmi.com/caselaws?id=63887 The Tribunal granted condonation of the delay in filing the appeal. The assessee's claim of short-term capital loss on the sale of shares was initially disallowed, but the Tribunal accepted the capital loss after analyzing relevant legal provisions and a decision of the Madras High Court. The Tribunal concluded that the reduction in share capital did not impact the cost of acquisition of shares, maintaining it at Rs. 5 per share. As a result, the appeal was allowed in favor of the assessee. en-us Wed, 26 Oct 1983 00:00:00 +0530 Wed, 02 Feb 2011 15:50:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63887 The Tribunal granted condonation of the delay in filing the appeal. The assessee's claim of short-term capital loss on the sale of shares was initially disallowed, but the Tribunal accepted the capital loss after analyzing relevant legal provisions and a decision of the Madras High Court. The Tribunal concluded that the reduction in share capital did not impact the cost of acquisition of shares, maintaining it at Rs. 5 per share. As a result, the appeal was allowed in favor of the assessee. Case-Laws Income Tax Wed, 26 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63887