https://www.taxtmi.com/caselaws?id=777616 Stock exchange share transactions used to set off short-term capital loss against long-term capital gains do not attract GAAR merely because of the timing of purchase and sale. Section 96 requires an arrangement between parties plus a specified tainted attribute, such as non-arm's-length rights or obligations, misuse or abuse of the Act, lack of commercial substance, or non-bona fide means. Transactions routed through stock exchanges and demat accounts, reflected in tax returns and supported by an established investment portfolio, were not shown to involve connected persons or other independent adverse material. The statutory presumption was therefore insufficient, and the order under Section 144BA(6) was unsustainable. en-us Fri, 22 Aug 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777616 Stock exchange share transactions used to set off short-term capital loss against long-term capital gains do not attract GAAR merely because of the timing of purchase and sale. Section 96 requires an arrangement between parties plus a specified tainted attribute, such as non-arm's-length rights or obligations, misuse or abuse of the Act, lack of commercial substance, or non-bona fide means. Transactions routed through stock exchanges and demat accounts, reflected in tax returns and supported by an established investment portfolio, were not shown to involve connected persons or other independent adverse material. The statutory presumption was therefore insufficient, and the order under Section 144BA(6) was unsustainable. Case-Laws Income Tax Fri, 22 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777616