Disallowance of loss on account of alleged share transactions - ...

Tribunal Error in Ignoring Entity Connections in Share Transaction Loss Disallowance; Assessing Officer's Viewpoint Overlooked.

May 5, 2015

Case Laws Income Tax HC

Disallowance of loss on account of alleged share transactions - the link established between the assessee and these companies was important in considering the question whether the transactions of shares were genuine or not.the Tribunal grossly erred in completely ignoring the aspect of inter linked entities and overlooking the perspective outlined by the AO. - HC

View Source

← Previous Next →

Disallowance of loss on account of alleged share transactions - ...

Tribunal Error in Ignoring Entity Connections in Share Transaction Loss Disallowance; Assessing Officer's Viewpoint Overlooked.

May 5, 2015

Case Laws Income Tax HC

You may also like:

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...

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...

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

The Tribunal set aside the disallowance of short-term loss claimed by the assessee in the Profit and Loss Account, holding that the shares were acquired under a normal...

Three key issues: validity of reopening assessment, treatment of short-term capital gain on sale of factory building, and disallowance of short-term capital loss on...

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...

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...

Disallowance of loss on sale of shares being stock in trade - The transaction in question, since was not related to the business activity of the assessee, therefore, the...

Disallowance on account of loss on error trade - due to human error in punching the wrong scrip code, or punching of wrong quantity or in punching buy order in place of...

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

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

Disallowance of contrived loss - only ground for disallowing such loss was that there was no proof of delivery of shares prior to the date of search - Disallowance in...

The case concerns benami transactions and the attachment of properties. The Adjudicating Authority initially refused to confirm the attachment order, citing funds...

Nature of loss - business loss or speculation loss - trading in derivatives i.e. F&O of shares - The contract note clearly revealed that the transactions were supported...

Disallowance of loss from trading in penny shares was rejected. The Assessing Officer's finding that the trading loss was not commercially prudent was not accepted. The...

Quick Updates: