Tax Authorities Validate Genuine Share Sale Loss; Entity Permitted to Claim Bona Fide Loss.

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....Loss on sale of investment - bonafide loss or not? - As the assessee did purchase the shares from M/s. GRPL and have actually sold the shares and the shares have been subsequently transferred in the name HSIDC, we do not find any merit in the findings of the AO/ CIT(A). The loss incurred by the assessee on the said transaction is a bonafide loss and deserves to be allowed as such claimed by the assessee. - AT....