https://www.taxtmi.com/caselaws?id=794527 Disallowance of short-term capital loss on share sale was found unsupported by a speaking appellate order because the reasons for treating the transactions as sham were only summary and did not explain why the claim should be rejected, even though section 94(8) was held inapplicable to the share transactions. The matter was therefore sent back for fresh adjudication with a direction to pass a reasoned order after giving the assessee a reasonable opportunity of hearing under section 250(6) of the Income-tax Act, 1961. en-us Tue, 30 Jun 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794527 Disallowance of short-term capital loss on share sale was found unsupported by a speaking appellate order because the reasons for treating the transactions as sham were only summary and did not explain why the claim should be rejected, even though section 94(8) was held inapplicable to the share transactions. The matter was therefore sent back for fresh adjudication with a direction to pass a reasoned order after giving the assessee a reasonable opportunity of hearing under section 250(6) of the Income-tax Act, 1961. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794527