https://www.taxtmi.com/caselaws?id=22437 The court directed the Tribunal to refer the disallowance of the capital loss on the sale of shares as a question of law. The judgment emphasized the need for a comprehensive review of the issues related to the disallowed claim and the nature of the share transaction, loan conversion, and determination of share costs. The ruling supported the assessee's application, highlighting the importance of considering all relevant aspects of the case in determining the correctness of the disallowance. The court made the rule absolute without costs, indicating the seriousness of the legal issues raised in challenging the disallowance of the capital loss. en-us Thu, 20 Sep 1990 00:00:00 +0530 Thu, 10 Dec 2009 11:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22437 The court directed the Tribunal to refer the disallowance of the capital loss on the sale of shares as a question of law. The judgment emphasized the need for a comprehensive review of the issues related to the disallowed claim and the nature of the share transaction, loan conversion, and determination of share costs. The ruling supported the assessee's application, highlighting the importance of considering all relevant aspects of the case in determining the correctness of the disallowance. The court made the rule absolute without costs, indicating the seriousness of the legal issues raised in challenging the disallowance of the capital loss. Case-Laws Income Tax Thu, 20 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22437