https://www.taxtmi.com/caselaws?id=118765 The Tribunal upheld the disallowance of the claimed loss by the assessee on the sale of shares of Satyam Computers Ltd., concluding that the transaction was a sham intended to defraud the revenue. Despite the assessee's arguments and evidence presented, including purchase bills and bank statements, the Tribunal found inconsistencies and lack of crucial evidence, such as distinctive numbers and proof of delivery. The decision emphasized the necessity of concrete evidence to establish the genuineness of share trading transactions, ultimately dismissing the appeal and confirming the disallowance of the loss. en-us Fri, 30 Sep 2005 00:00:00 +0530 Thu, 05 Jul 2012 15:46:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118765 The Tribunal upheld the disallowance of the claimed loss by the assessee on the sale of shares of Satyam Computers Ltd., concluding that the transaction was a sham intended to defraud the revenue. Despite the assessee's arguments and evidence presented, including purchase bills and bank statements, the Tribunal found inconsistencies and lack of crucial evidence, such as distinctive numbers and proof of delivery. The decision emphasized the necessity of concrete evidence to establish the genuineness of share trading transactions, ultimately dismissing the appeal and confirming the disallowance of the loss. Case-Laws Income Tax Fri, 30 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118765