https://www.taxtmi.com/caselaws?id=70488 The Tribunal dismissed the appeal as it found no causal nexus between the extinguishment of rights in the building and the claimed short-term capital loss. It emphasized that the sale of demolished materials was an independent transaction and did not constitute a "transfer" under Section 2(47) of the Income-tax Act. Therefore, the assessee was not entitled to claim the capital loss of Rs. 1,12,875. en-us Tue, 15 Sep 1987 00:00:00 +0530 Sat, 16 Apr 2011 14:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70488 The Tribunal dismissed the appeal as it found no causal nexus between the extinguishment of rights in the building and the claimed short-term capital loss. It emphasized that the sale of demolished materials was an independent transaction and did not constitute a "transfer" under Section 2(47) of the Income-tax Act. Therefore, the assessee was not entitled to claim the capital loss of Rs. 1,12,875. Case-Laws Income Tax Tue, 15 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70488