https://www.taxtmi.com/caselaws?id=60529 The Tribunal upheld the disallowance of a capital loss claimed on the sale of shares, citing lack of bona fides and collusive nature of transactions. Additionally, the disallowance of interest paid and denial of set-off for brought forward capital loss were confirmed. The Tribunal concluded that the transactions were not genuine commercial dealings but artificial arrangements within related companies, thus dismissing the appeals and denying the tax benefits sought by the assessee. en-us Tue, 18 Feb 2003 00:00:00 +0530 Wed, 05 Jan 2011 17:45:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60529 The Tribunal upheld the disallowance of a capital loss claimed on the sale of shares, citing lack of bona fides and collusive nature of transactions. Additionally, the disallowance of interest paid and denial of set-off for brought forward capital loss were confirmed. The Tribunal concluded that the transactions were not genuine commercial dealings but artificial arrangements within related companies, thus dismissing the appeals and denying the tax benefits sought by the assessee. Case-Laws Income Tax Tue, 18 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60529