https://www.taxtmi.com/caselaws?id=423428 The High Court dismissed the Tax Case Appeal, upholding the decisions of the lower authorities. It found that the loss incurred was capital in nature and not allowable under the relevant sections of the Income Tax Act. The Court emphasized the requirement of a transfer of assets for a capital loss to be carried forward, distinguishing between revenue and capital losses. en-us Mon, 25 Apr 2022 00:00:00 +0530 Fri, 11 Aug 2023 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423428 The High Court dismissed the Tax Case Appeal, upholding the decisions of the lower authorities. It found that the loss incurred was capital in nature and not allowable under the relevant sections of the Income Tax Act. The Court emphasized the requirement of a transfer of assets for a capital loss to be carried forward, distinguishing between revenue and capital losses. Case-Laws Income Tax Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423428