https://www.taxtmi.com/caselaws?id=58618 Sale of specific shares is treated as complete when delivery and consideration are received, so a short-term capital loss crystallises in that year even if registration in the company's register occurs later. The company register is relevant to record-keeping, not to the completion of the transfer between the parties. Professional fees paid to an architect for preparing an estimate for routine repairs are revenue expenditure, because they do not create a capital asset or enduring advantage. On these principles, the loss was allowable in the relevant assessment year and the repair-related expenditure was deductible as revenue outlay. en-us Mon, 01 Jan 1990 00:00:00 +0530 Mon, 20 Dec 2010 18:33:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58618 Sale of specific shares is treated as complete when delivery and consideration are received, so a short-term capital loss crystallises in that year even if registration in the company's register occurs later. The company register is relevant to record-keeping, not to the completion of the transfer between the parties. Professional fees paid to an architect for preparing an estimate for routine repairs are revenue expenditure, because they do not create a capital asset or enduring advantage. On these principles, the loss was allowable in the relevant assessment year and the repair-related expenditure was deductible as revenue outlay. Case-Laws Income Tax Mon, 01 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58618