Court Upholds Disallowance of Capital Loss from MBPPL Share Sale; Sale Price Deemed Tax Evasion Scheme.

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....Disallowing the capital loss resulting out of sale of shares of MBPPL - the sale of shares in the value of ₹.10/- as low as a price at ₹.0.10 per share is nothing but a transaction to avoid taxation of capital gain. - AT....