Home Highlights June 2013 Year 2013 This

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1. Deemed Loss - Diminution in the value of investment in two unlisted companies - Loss in the value of investment will arise only when such shares are sold by the...

2. Nature of expenditure - addition of write off of investments - the claim of loss accruing or arising as investment in equity shares, non-convertible debentures and zero...

3. Treatment to the losses on sale of share as "capital loss" - Assessee has in its books treated the shares as investment and accordingly valued the shares at cost and...

4. Short term capital loss cannot be disallowed merely due to shares being sold at a loss within a short span after acquisition. An intervening legal transaction cannot be...

5. Valuation loss treated as speculation loss - It is a fact that shares traded by the assessee were not of any of the good companies. The assessee had in the normal course...

6. Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

7. Diminution of value of shares - to be treated as business loss or not - Regular method of valuation of stock to be followed - claim of loss allowed - AT

8. Losses written off - ‘business loss’ or ‘capital loss - The present facts of the assessee’s case shows that the investment was made not for the purpose of expansion of...

9. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

10. Income Tax: Tax on distributed income of domestic company for buy-back of shares to be treated as dividend in hands of shareholders. Cost of acquisition of shares bought...

11. MAT Computation u/s 115JB - once assessee has reduced amount shown by it as a provision for diminution of investment from its total value of investment, it no longer...

12. Correct head of income - sale consideration received by the assessee from redemption of preference shares including the premium- capital income or income from other...

13. Disallowing the claim of capital loss incurred by the appellant due to reduction of capital by the investee company - transfer u/s 2(47) - face value of shares remains...

14. Appellant booked artificial short-term capital loss by purchasing shares from group entities at exorbitant rates and selling same shares to other group entities at lower...

15. Revenue loss or capital loss - the remarks of the auditors become relevant and could not be brushed aside so conveniently as has been done by the Tribunal. - shares in...