https://www.taxtmi.com/caselaws?id=797903 Short-term capital loss on the sale of unlisted shares cannot be disallowed merely because it reduces tax liability where the underlying transactions are genuine. Banking records, share-transfer documents and company registration established the purchase and sale, while no material showed a pre-arranged arrangement or lack of commercial substance. The sale price to a related party exceeded the price paid for comparable shares acquired by another family member. Genuine tax planning remains distinct from tax evasion; consequently, the loss disallowance and corresponding addition were deleted. en-us Fri, 21 Aug 2026 00:00:00 +0530 Sat, 29 Aug 2026 14:35:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797903 Short-term capital loss on the sale of unlisted shares cannot be disallowed merely because it reduces tax liability where the underlying transactions are genuine. Banking records, share-transfer documents and company registration established the purchase and sale, while no material showed a pre-arranged arrangement or lack of commercial substance. The sale price to a related party exceeded the price paid for comparable shares acquired by another family member. Genuine tax planning remains distinct from tax evasion; consequently, the loss disallowance and corresponding addition were deleted. Case-Laws Income Tax Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797903