Court Rules Section 43(5) of Income Tax Act, 1961 Not Applicable in Share Sale Short-Term Capital Loss Case.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Short term capital loss on sale of shares - When the provisions of Section 43 (5) is not applicable to the facts of this case, the contention that the case of the assessee would be covered under explanation to Section 73 of the Income Tax Act, 1961, cannot be accepted. - HC....