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Court Disallows Short-Term Capital Loss on Shares Bought at Inflated Prices to Manipulate Tax Liabilities.

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....Disallowance on Short term capital loss – assessee cannot incur short term capital loss by purchasing fresh shares at an inflated rate and to sell it out at a nominal rate - AT....

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Court Disallows Short-Term Capital Loss on Shares Bought at Inflated Prices to Manipulate Tax Liabilities.