https://www.taxtmi.com/caselaws?id=351404 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to recompute income, as it found the transactions genuine and the financial need for selling shares justified. The Tribunal disagreed with lower authorities, concluding the transactions were not solely to manage tax liability. It acknowledged the assessee's long-term investment approach in start-up companies and accepted the genuine nature of the transactions, allowing the claim for long-term capital loss. en-us Thu, 16 Nov 2017 00:00:00 +0530 Fri, 24 Nov 2017 06:27:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351404 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to recompute income, as it found the transactions genuine and the financial need for selling shares justified. The Tribunal disagreed with lower authorities, concluding the transactions were not solely to manage tax liability. It acknowledged the assessee's long-term investment approach in start-up companies and accepted the genuine nature of the transactions, allowing the claim for long-term capital loss. Case-Laws Income Tax Thu, 16 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351404