https://www.taxtmi.com/caselaws?id=202297 The High Court held that the capital loss incurred by the assessee on redemption of mutual fund units was not liable for disallowance under section 94(7) of the Income-tax Act. The Court emphasized the need for specific conditions to be cumulatively met for such disallowance, including the alignment of purchase and sale within specified periods. As the transactions in question did not meet these conditions, the Court upheld the decisions of the lower authorities and dismissed the Revenue's appeal, finding no substantial question of law for consideration. en-us Tue, 10 Feb 2009 00:00:00 +0530 Wed, 02 Jan 2013 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202297 The High Court held that the capital loss incurred by the assessee on redemption of mutual fund units was not liable for disallowance under section 94(7) of the Income-tax Act. The Court emphasized the need for specific conditions to be cumulatively met for such disallowance, including the alignment of purchase and sale within specified periods. As the transactions in question did not meet these conditions, the Court upheld the decisions of the lower authorities and dismissed the Revenue's appeal, finding no substantial question of law for consideration. Case-Laws Income Tax Tue, 10 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202297