https://www.taxtmi.com/caselaws?id=261018 The Tribunal upheld the decisions of the A.O. and CIT(A) regarding the treatment of the loss on the sale of shares as a capital loss, not a trading loss. The Assessee's argument of converting the shares to stock in trade after a lock-in period was not supported by evidence, leading to the dismissal of the appeal. Adherence to accounting standards and specific circumstances of the case guided the Tribunal's decision, affirming the classification of the loss as a capital loss. en-us Thu, 26 Mar 2015 00:00:00 +0530 Tue, 30 Jun 2015 06:43:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261018 The Tribunal upheld the decisions of the A.O. and CIT(A) regarding the treatment of the loss on the sale of shares as a capital loss, not a trading loss. The Assessee's argument of converting the shares to stock in trade after a lock-in period was not supported by evidence, leading to the dismissal of the appeal. Adherence to accounting standards and specific circumstances of the case guided the Tribunal's decision, affirming the classification of the loss as a capital loss. Case-Laws Income Tax Thu, 26 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261018