https://www.taxtmi.com/caselaws?id=247656 The Appellate Tribunal ITAT Chennai ruled in a tax case concerning short term capital gains and losses on the sale of shares. The Tribunal found that the shares were sold after the dividend declaration and receipt, constituting dividend stripping under Section 94 of the Income-tax Act, 1961. Consequently, the Tribunal upheld the Assessing Officer's decision to ignore the capital loss for tax computation purposes. The decision emphasized that the actual sale date, as per the company's registers, determines tax implications, and directed the Assessing Officer to take necessary actions in line with the law. en-us Thu, 08 May 2014 00:00:00 +0530 Mon, 19 May 2014 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247656 The Appellate Tribunal ITAT Chennai ruled in a tax case concerning short term capital gains and losses on the sale of shares. The Tribunal found that the shares were sold after the dividend declaration and receipt, constituting dividend stripping under Section 94 of the Income-tax Act, 1961. Consequently, the Tribunal upheld the Assessing Officer's decision to ignore the capital loss for tax computation purposes. The decision emphasized that the actual sale date, as per the company's registers, determines tax implications, and directed the Assessing Officer to take necessary actions in line with the law. Case-Laws Income Tax Thu, 08 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247656