https://www.taxtmi.com/caselaws?id=55192 The Tribunal dismissed the appeals, upholding the assessee's claim for short-term capital losses on silver sales within the Sarabhai group of companies. The Commissioner found no evidence of collusive sales, emphasizing market rate pricing and genuine commercial considerations. The Tribunal distinguished the case from McDowell, recognizing the genuine nature of the transactions and the transfer of property to buyers. Emphasizing the commercial rationale behind the sales and the genuine transfer of ownership, the Tribunal concluded that the sales were legitimate, resulting in the dismissal of all appeals. en-us Tue, 06 Sep 1988 00:00:00 +0530 Wed, 24 Nov 2010 13:52:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55192 The Tribunal dismissed the appeals, upholding the assessee's claim for short-term capital losses on silver sales within the Sarabhai group of companies. The Commissioner found no evidence of collusive sales, emphasizing market rate pricing and genuine commercial considerations. The Tribunal distinguished the case from McDowell, recognizing the genuine nature of the transactions and the transfer of property to buyers. Emphasizing the commercial rationale behind the sales and the genuine transfer of ownership, the Tribunal concluded that the sales were legitimate, resulting in the dismissal of all appeals. Case-Laws Income Tax Tue, 06 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55192