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Court Rules Share Transactions Not Genuine Due to Lack of Evidence on Repurchase Price, Resulting in Capital Loss.

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Full Text of the Document

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....Short term Capital Loss arising from re-purchase and sale of shares - In the absence of any material explained as regards the repurchase of shares at Rs. 30/- per share and subsequently sold it at Rs. 8.50 paise, same cannot be construed as genuine transactions. - HC....

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