https://www.taxtmi.com/caselaws?id=781769 ITAT Delhi dismissed the Revenue's appeal, upholding deletion of disallowance of long-term capital loss and addition under s.68. The Tribunal accepted that the assessee's sale of shares in a loss-making project company, whose hydel project had been terminated by the State, was a bona fide commercial decision, with share valuation supported by negative net worth and linked recovery of receivables. It rejected the Revenue's objection regarding another group entity's absence of capital gain/loss. For the s.68 issue, ITAT noted that the unsecured loan was received through proper banking channels from a corporate lender, comparable to discounted sale of NPAs, and sustained CIT(A)'s deletion. en-us Wed, 15 Oct 2025 00:00:00 +0530 Thu, 20 Nov 2025 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781769 ITAT Delhi dismissed the Revenue's appeal, upholding deletion of disallowance of long-term capital loss and addition under s.68. The Tribunal accepted that the assessee's sale of shares in a loss-making project company, whose hydel project had been terminated by the State, was a bona fide commercial decision, with share valuation supported by negative net worth and linked recovery of receivables. It rejected the Revenue's objection regarding another group entity's absence of capital gain/loss. For the s.68 issue, ITAT noted that the unsecured loan was received through proper banking channels from a corporate lender, comparable to discounted sale of NPAs, and sustained CIT(A)'s deletion. Case-Laws Income Tax Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781769