https://www.taxtmi.com/caselaws?id=65568 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision that the provisions of section 94(7) of the Income-tax Act require all conditions to be cumulatively satisfied for disallowing a capital loss. The assessee's transactions did not meet all these conditions, and thus, the capital loss on mutual fund units was not disallowed. Consequently, the exemption under section 10(34) claimed by the assessee was upheld as valid. en-us Fri, 29 Feb 2008 00:00:00 +0530 Tue, 02 Jan 2024 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65568 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision that the provisions of section 94(7) of the Income-tax Act require all conditions to be cumulatively satisfied for disallowing a capital loss. The assessee's transactions did not meet all these conditions, and thus, the capital loss on mutual fund units was not disallowed. Consequently, the exemption under section 10(34) claimed by the assessee was upheld as valid. Case-Laws Income Tax Fri, 29 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65568