https://www.taxtmi.com/highlights?id=79545 Short term capital loss cannot be disallowed merely due to shares being sold at a loss within a short span after acquisition. An intervening legal transaction cannot be ignored based on assumptions about motive. Purchase of loss-making company's shares with intent to improve performance is a valid business decision. Fair market value provisions for unquoted shares u/s 50CA are applicable only from AY 2018-19 onwards. For earlier years, actual consideration received is the full value of consideration u/s 48 for computing capital gains/loss. Disallowance of short term capital loss was unjustified and deserves deletion. en-us Fri, 19 Jul 2024 07:33:53 +0530 Fri, 19 Jul 2024 07:33:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79545 Short term capital loss cannot be disallowed merely due to shares being sold at a loss within a short span after acquisition. An intervening legal transaction cannot be ignored based on assumptions about motive. Purchase of loss-making company's shares with intent to improve performance is a valid business decision. Fair market value provisions for unquoted shares u/s 50CA are applicable only from AY 2018-19 onwards. For earlier years, actual consideration received is the full value of consideration u/s 48 for computing capital gains/loss. Disallowance of short term capital loss was unjustified and deserves deletion. Highlights Income Tax Fri, 19 Jul 2024 07:33:53 +0530 https://www.taxtmi.com/highlights?id=79545