Court Allows Set-Off of Long-Term Capital Loss; Validates Transactions Between Group Companies as Genuine, Not Sham.

Disallowance of long term capital loss on sale of shares - sham transactions or genuine transactions - - It seems to be a case of tax planning by the assessee, though the transactions having been carried out between the group companies - AO directed to allow the set off such loss against the long term capital gain - AT .....

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