Disallowance on loss on shares - colourable device - when all ...

Loss from Share Transactions Not a Colorable Device if Parties Genuine & Benefits to Company Substantiated.

April 5, 2023

Case Laws Income Tax AT

Disallowance on loss on shares - colourable device - when all the parties to the transaction are genuine and the intention of the assessee in subscribing to the preferential shares of the company is also supported by the benefits derived by the company, the mere fact that the shares were sold at loss does not result in treating the entire transaction as colourable - AT

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Disallowance on loss on shares - colourable device - when all ...

Loss from Share Transactions Not a Colorable Device if Parties Genuine & Benefits to Company Substantiated.

April 5, 2023

Case Laws Income Tax AT

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