https://www.taxtmi.com/caselaws?id=257629 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of a loss claimed by the assessee due to the valuation of shares as part of the closing stock. It found the transactions genuine despite not being in possession of the shares, concluding that the AO's disallowance lacked concrete evidence. The Tribunal referenced a similar case supporting the assessee's position and dismissed the revenue's appeal. en-us Fri, 30 Jan 2015 00:00:00 +0530 Wed, 18 Mar 2015 08:14:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257629 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of a loss claimed by the assessee due to the valuation of shares as part of the closing stock. It found the transactions genuine despite not being in possession of the shares, concluding that the AO's disallowance lacked concrete evidence. The Tribunal referenced a similar case supporting the assessee's position and dismissed the revenue's appeal. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257629