https://www.taxtmi.com/caselaws?id=245189 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the lower authorities' decision to disallow a capital loss on share transactions. The ITAT emphasized the lack of concrete evidence to support the claim that the transaction was a sham merely because it involved relatives. As the appeal on the capital loss issue was allowed in favor of the assessee, the jurisdiction matter was deemed of academic importance and was not addressed. en-us Fri, 14 Mar 2014 00:00:00 +0530 Sat, 22 Mar 2014 10:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245189 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the lower authorities' decision to disallow a capital loss on share transactions. The ITAT emphasized the lack of concrete evidence to support the claim that the transaction was a sham merely because it involved relatives. As the appeal on the capital loss issue was allowed in favor of the assessee, the jurisdiction matter was deemed of academic importance and was not addressed. Case-Laws Income Tax Fri, 14 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245189