https://www.taxtmi.com/caselaws?id=775368 ITAT Delhi upheld the disallowance of short-term capital loss claimed on the sale of commercial FSI rights and 4659 shares, rejecting the assessee's claim of distress sale due to market slowdown. The tribunal found that neither purchase nor sale prices reflected prevailing market rates, and transactions lacked genuineness as payments were not made timely and buyers lacked funds. Additionally, a pending PIL against the company whose shares were sold was noted, but no evidence showed any adverse action affecting business prospects. The tribunal was unconvinced that the sale was forced by market conditions and dismissed the assessee's appeal. en-us Mon, 21 Jul 2025 00:00:00 +0530 Wed, 23 Jul 2025 13:09:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775368 ITAT Delhi upheld the disallowance of short-term capital loss claimed on the sale of commercial FSI rights and 4659 shares, rejecting the assessee's claim of distress sale due to market slowdown. The tribunal found that neither purchase nor sale prices reflected prevailing market rates, and transactions lacked genuineness as payments were not made timely and buyers lacked funds. Additionally, a pending PIL against the company whose shares were sold was noted, but no evidence showed any adverse action affecting business prospects. The tribunal was unconvinced that the sale was forced by market conditions and dismissed the assessee's appeal. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775368