https://www.taxtmi.com/highlights?id=69081 Disallowance on loss on shares - colourable device - when all the parties to the transaction are genuine and the intention of the assessee in subscribing to the preferential shares of the company is also supported by the benefits derived by the company, the mere fact that the shares were sold at loss does not result in treating the entire transaction as colourable - AT en-us Wed, 05 Apr 2023 10:11:58 +0530 Wed, 05 Apr 2023 10:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69081 Disallowance on loss on shares - colourable device - when all the parties to the transaction are genuine and the intention of the assessee in subscribing to the preferential shares of the company is also supported by the benefits derived by the company, the mere fact that the shares were sold at loss does not result in treating the entire transaction as colourable - AT Highlights Income Tax Wed, 05 Apr 2023 10:11:58 +0530 https://www.taxtmi.com/highlights?id=69081