https://www.taxtmi.com/caselaws?id=55652 Deduction under section 80M was denied without reducing relief under section 80K because the issue was treated as covered against the assessee by a Special Bench decision. The claimed long-term capital loss on sale of shares was accepted as genuine and allowable because the shares had not yielded dividends for years, the sale price was supported by a registered valuer's report, and the surrounding facts did not support an inference of tax evasion or a colourable device. The appeal therefore succeeded only on the capital loss issue. en-us Wed, 13 Mar 1991 00:00:00 +0530 Mon, 29 Nov 2010 12:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55652 Deduction under section 80M was denied without reducing relief under section 80K because the issue was treated as covered against the assessee by a Special Bench decision. The claimed long-term capital loss on sale of shares was accepted as genuine and allowable because the shares had not yielded dividends for years, the sale price was supported by a registered valuer's report, and the surrounding facts did not support an inference of tax evasion or a colourable device. The appeal therefore succeeded only on the capital loss issue. Case-Laws Income Tax Wed, 13 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55652