https://www.taxtmi.com/caselaws?id=259251 The High Court concluded that the transactions in shares were not genuine and were aimed at creating artificial losses. The Tribunal and CIT(A) were found to have erred in accepting the genuineness of the transactions, with the High Court deeming their findings as perverse. The appeals were allowed, disallowing the losses claimed by the assessee, except for those related to Mather & Platt India Ltd., which were not connected to the fraudulent transactions. en-us Thu, 30 Apr 2015 00:00:00 +0530 Sat, 07 Nov 2015 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259251 The High Court concluded that the transactions in shares were not genuine and were aimed at creating artificial losses. The Tribunal and CIT(A) were found to have erred in accepting the genuineness of the transactions, with the High Court deeming their findings as perverse. The appeals were allowed, disallowing the losses claimed by the assessee, except for those related to Mather & Platt India Ltd., which were not connected to the fraudulent transactions. Case-Laws Income Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259251