https://www.taxtmi.com/caselaws?id=302963 The case involved three appeals from the same family challenging the denial of carry forward of Speculation Loss and Short Term Capital Loss for Assessment Year 2007-08. The Assessing Officer and CIT(A) rejected the claims based on information from a search on Shri Mukesh Choksi, but the ITAT partially allowed the lead case's appeal, directing reassessment of the Short Term Capital Loss claim. The decision applied to all family appeals, stressing the importance of verifying transaction genuineness and allowing a fair opportunity for the assessee to substantiate their claims. en-us Fri, 09 Mar 2018 00:00:00 +0530 Sun, 26 Jun 2022 21:59:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302963 The case involved three appeals from the same family challenging the denial of carry forward of Speculation Loss and Short Term Capital Loss for Assessment Year 2007-08. The Assessing Officer and CIT(A) rejected the claims based on information from a search on Shri Mukesh Choksi, but the ITAT partially allowed the lead case's appeal, directing reassessment of the Short Term Capital Loss claim. The decision applied to all family appeals, stressing the importance of verifying transaction genuineness and allowing a fair opportunity for the assessee to substantiate their claims. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302963