2019 (7) TMI 272 - SCH - Income Tax

Allowability of business loss on the purchase of Shares on account of diminution value in the Shares - said loss to the extent of about 50% of the purchase value of the Shares by the Assessee Company was deducted by the Appellant/Assessee claiming it as business loss to the Assessee Company - HELD THAT - Special Leave Petition dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition in the case. Justices Rohinton Fali Nariman and Surya Kant were presiding. Petitioner represented by Mr. Manu Mridul, Mr. Pawan Kumar, Mr. Sumit Mamgain, Mr. Shalaj Mridul, and Mr. Jitin Chaturvedi.