https://www.taxtmi.com/caselaws?id=340809 The Tribunal allowed the appeal, permitting the set off of the long-term capital loss on the off-market sale of listed shares against the long-term capital gains from the sale of unlisted shares. It deemed the off-market sale a legitimate business decision, not a colorable device, contrary to the findings of the AO and CIT(A). The Tribunal held that the transactions were not structured to manipulate tax liability, allowing the total loss to be adjusted against the gains and carried forward for future set off. en-us Wed, 08 Mar 2017 00:00:00 +0530 Tue, 28 Mar 2017 06:47:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340809 The Tribunal allowed the appeal, permitting the set off of the long-term capital loss on the off-market sale of listed shares against the long-term capital gains from the sale of unlisted shares. It deemed the off-market sale a legitimate business decision, not a colorable device, contrary to the findings of the AO and CIT(A). The Tribunal held that the transactions were not structured to manipulate tax liability, allowing the total loss to be adjusted against the gains and carried forward for future set off. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340809