https://www.taxtmi.com/caselaws?id=466027 Issue concerns recognition of loss from purchase and sale of equity shares alleged to be penny stock and its entitlement to set off against other income. Tribunal treated the loss as genuine where the assessee, holding an RBI licence and regularly trading in securities, incurred trading losses in ordinary course; reliance on earlier tribunal decisions supported genuineness. Operative effect: such trading loss is eligible for set off against interest income for the relevant assessment year, and the appellate authority's contrary finding was set aside. en-us Fri, 13 Sep 2024 00:00:00 +0530 Mon, 19 Jan 2026 18:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466027 Issue concerns recognition of loss from purchase and sale of equity shares alleged to be penny stock and its entitlement to set off against other income. Tribunal treated the loss as genuine where the assessee, holding an RBI licence and regularly trading in securities, incurred trading losses in ordinary course; reliance on earlier tribunal decisions supported genuineness. Operative effect: such trading loss is eligible for set off against interest income for the relevant assessment year, and the appellate authority's contrary finding was set aside. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466027