https://www.taxtmi.com/caselaws?id=285950 Short-term capital loss supported by contemporaneous commercial documents, share purchase agreements and banking records cannot be disallowed as sham or colourable merely on suspicion where no cogent evidence disproves the transactions; the disallowance was deleted. Software consultancy expenditure incurred for business expansion, broadcasting software upgrading and systems integration is revenue expenditure where it is connected with business operations and is not personal in nature; the deduction was allowed. Both contested additions were deleted. en-us Fri, 01 Mar 2019 00:00:00 +0530 Tue, 04 Feb 2020 19:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285950 Short-term capital loss supported by contemporaneous commercial documents, share purchase agreements and banking records cannot be disallowed as sham or colourable merely on suspicion where no cogent evidence disproves the transactions; the disallowance was deleted. Software consultancy expenditure incurred for business expansion, broadcasting software upgrading and systems integration is revenue expenditure where it is connected with business operations and is not personal in nature; the deduction was allowed. Both contested additions were deleted. Case-Laws Income Tax Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285950