https://www.taxtmi.com/caselaws?id=245172 The ITAT Delhi allowed the appellant's appeal against the disallowance of a capital loss on the sale of shares to his wife. The ITAT found that the Assessing Officer lacked factual basis for disallowing the loss and that the sale price was supported by evidence from the company's financial statements. It concluded that the transaction was genuine and not a sham, directing the Assessing Officer to allow the capital loss. The decision was pronounced on 27th September 2013. en-us Fri, 27 Sep 2013 00:00:00 +0530 Tue, 18 Mar 2014 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245172 The ITAT Delhi allowed the appellant's appeal against the disallowance of a capital loss on the sale of shares to his wife. The ITAT found that the Assessing Officer lacked factual basis for disallowing the loss and that the sale price was supported by evidence from the company's financial statements. It concluded that the transaction was genuine and not a sham, directing the Assessing Officer to allow the capital loss. The decision was pronounced on 27th September 2013. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245172