Tax Authorities Overturn Disallowance of Short-Term Capital Gains on Mutual Funds Due to Lack of Evidence of Tax Evasion.

Tax Authorities Overturn Disallowance of Short-Term Capital Gains on Mutual Funds Due to Lack of Evidence of Tax Evasion. https://www.taxtmi.com/highlights?id=48014 Disallowing STCG on mutual funds - lower authorities completely failed to rebut evidences and explanations so filed by these agencies so as to conclude that it was a colourable device or any connivance with the companies to evade tax by booking loss - if the assessee do not fall/suffers from restrictions under law, the assessee could not have been denied that benefit as claimed - loss allowable en-us Thu, 18 Jul 2019 08:01:13 +0530 Wed, 17 Jul 2019 15:49:40 +0530 TaxTMI RSS Generator Tax Authorities Overturn Disallowance of Short-Term Capital Gains on Mutual Funds Due to Lack of Evidence of Tax Evasion. https://www.taxtmi.com/highlights?id=48014 Disallowing STCG on mutual funds - lower authorities completely failed to rebut evidences and explanations so filed by these agencies so as to conclude that it was a colourable device or any connivance with the companies to evade tax by booking loss - if the assessee do not fall/suffers from restrictions under law, the assessee could not have been denied that benefit as claimed - loss allowable Highlights Income Tax Thu, 18 Jul 2019 08:01:13 +0530 https://www.taxtmi.com/highlights?id=48014