Home Highlights March 2014 Year 2014 This

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1. Disallowance of short term capital loss - creation of artificial loss - assessee appellants failed to discharge the onus, to prove the genuineness of the transactions of...

2. Setoff of short term loss from shares with short term capital gain - Genuineness of loss - the AO could not have on one hand accepted the genuineness of the transaction...

3. Disallowance of Capital Loss on Sale of Shares - sale of shares due to the amalgamation of certain entities - The AO disallowed the loss, treating it as an artificial...

4. Disallowance of LTCG - claim of long term capital loss - genuineness of transactions - Establishment of source of amount received – addition made by the CIT(A) is to be upheld - AT

5. Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

6. The assessee, a professional stock broker, claimed loss on trading of shares which was disallowed by the Assessing Officer (AO) on the grounds that the trades were not...

7. Disallowance of capital loss – Revenue was of the view that the transaction is a sham to book an artificial loss – just because the transaction is between the relatives,...

8. Appellate Tribunal examined disallowance of claim for futures and options (F&O) loss by Assessing Officer (AO) based on report alleging stock brokers manipulated...

9. 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...

10. Allowability of capital loss as well as the right of deferred tax assets - Disallowance of capital expenditure debited to the profit and loss account - whether CIT-A...

11. Long term capital loss - The transactions carried by assessee are valid in law, cannot be treated as non-est merely on the basis of some economic detriment or it may be...

12. Transfer of capital asset by a company to its subsidiary company - Long term capital gain v/s long term capital loss - transaction cannot be regarded as transfer u/s...

13. 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...

14. Loss on sale of land - ‘Business Loss’ or ‘Capital Loss’ - The present land transaction may be the first transaction of the assessee firm but the sister concern of the...

15. MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...