https://www.taxtmi.com/caselaws?id=259170 The Tribunal dismissed all Miscellaneous Applications, upholding its decision to disallow the short-term capital loss claimed by the assessee on the sale of shares due to the transaction being deemed a sham. The Tribunal directed the CIT(A) to re-examine the valuation of shares and determine long-term capital loss, asserting its authority to pass consequential orders for a fair resolution. The Tribunal's decision was based on a detailed analysis of the company's financials and applicable laws, finding the objections raised by the assessee lacked merit. en-us Thu, 16 Apr 2015 00:00:00 +0530 Sat, 02 May 2015 08:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259170 The Tribunal dismissed all Miscellaneous Applications, upholding its decision to disallow the short-term capital loss claimed by the assessee on the sale of shares due to the transaction being deemed a sham. The Tribunal directed the CIT(A) to re-examine the valuation of shares and determine long-term capital loss, asserting its authority to pass consequential orders for a fair resolution. The Tribunal's decision was based on a detailed analysis of the company's financials and applicable laws, finding the objections raised by the assessee lacked merit. Case-Laws Income Tax Thu, 16 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259170