https://www.taxtmi.com/caselaws?id=395057 For a transfer completed before the insertion of "assessable" in section 50C, the stated consideration in a genuine agreement to sell governs capital-gains computation; the later amendment operates prospectively and cannot permit substitution of stamp valuation. Alternatively, if the agreement is non-genuine, the registered conveyance relates to a later assessment year and no gain arises in the year concerned. Short-term capital loss on share sales cannot be disallowed merely on suspicion or general inferences about the company's finances where primary purchase and sale evidence is furnished and no cogent evidence establishes undisclosed consideration or a sham transaction. en-us Fri, 01 May 2020 00:00:00 +0530 Fri, 21 Aug 2020 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395057 For a transfer completed before the insertion of "assessable" in section 50C, the stated consideration in a genuine agreement to sell governs capital-gains computation; the later amendment operates prospectively and cannot permit substitution of stamp valuation. Alternatively, if the agreement is non-genuine, the registered conveyance relates to a later assessment year and no gain arises in the year concerned. Short-term capital loss on share sales cannot be disallowed merely on suspicion or general inferences about the company's finances where primary purchase and sale evidence is furnished and no cogent evidence establishes undisclosed consideration or a sham transaction. Case-Laws Income Tax Fri, 01 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395057