https://www.taxtmi.com/caselaws?id=358271 The Tribunal found that the sale of shares by the assessee to her son was genuine and not a sham transaction to avoid tax. The assessee was allowed to set off the long-term capital loss from the share sale against the long-term capital gain from the sale of immovable property. The Tribunal directed the Assessing Officer to verify the computation of the indexed cost of acquisition of the shares and allow the correct amount of long-term capital loss to be set off against the long-term capital gain. The appeal by the assessee was allowed. en-us Fri, 09 Mar 2018 00:00:00 +0530 Mon, 09 Apr 2018 07:45:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358271 The Tribunal found that the sale of shares by the assessee to her son was genuine and not a sham transaction to avoid tax. The assessee was allowed to set off the long-term capital loss from the share sale against the long-term capital gain from the sale of immovable property. The Tribunal directed the Assessing Officer to verify the computation of the indexed cost of acquisition of the shares and allow the correct amount of long-term capital loss to be set off against the long-term capital gain. The appeal by the assessee was allowed. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358271