https://www.taxtmi.com/caselaws?id=375026 The High Court of Kerala upheld the Tribunal's decision, rejecting the Revenue's appeal and allowing the assessee's appeal regarding the claimed loss on the sale of securities. The judgment provided a detailed analysis of the interpretation of Section 94, specifically sub-sections (1) and (4), emphasizing the interconnected nature of these provisions in addressing tax avoidance in securities transactions. The Tribunal's ruling favored the assessee, disallowing the claimed loss and applying Section 94(7) prospectively from 01.04.2002. en-us Mon, 28 Jan 2019 00:00:00 +0530 Wed, 13 Feb 2019 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375026 The High Court of Kerala upheld the Tribunal's decision, rejecting the Revenue's appeal and allowing the assessee's appeal regarding the claimed loss on the sale of securities. The judgment provided a detailed analysis of the interpretation of Section 94, specifically sub-sections (1) and (4), emphasizing the interconnected nature of these provisions in addressing tax avoidance in securities transactions. The Tribunal's ruling favored the assessee, disallowing the claimed loss and applying Section 94(7) prospectively from 01.04.2002. Case-Laws Income Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375026