https://www.taxtmi.com/caselaws?id=375950 The Appellate Tribunal allowed the appeal, overturning the disallowance of the long-term capital loss on the sale of shares. The Tribunal held that the transaction was genuine, supported by valid documents, and taxable as capital gains, even without immediate receipt of consideration during the Assessment Year. The ownership transfer was recognized, justifying the valuation of shares due to the company's suspension from trading. The Tribunal found the Commissioner of Income Tax (Appeals)' decision unsustainable and dismissed the stay application, ultimately ruling in favor of the assessee. en-us Tue, 26 Feb 2019 00:00:00 +0530 Thu, 28 Feb 2019 07:00:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375950 The Appellate Tribunal allowed the appeal, overturning the disallowance of the long-term capital loss on the sale of shares. The Tribunal held that the transaction was genuine, supported by valid documents, and taxable as capital gains, even without immediate receipt of consideration during the Assessment Year. The ownership transfer was recognized, justifying the valuation of shares due to the company's suspension from trading. The Tribunal found the Commissioner of Income Tax (Appeals)' decision unsustainable and dismissed the stay application, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375950