Artificial capital gains loss - colourable device to evade tax - ...

Case Laws Income Tax

October 20, 2023

Artificial capital gains loss - colourable device to evade tax - Allegation of transfer of agricultural land to LLP to generation artificial loss to set off with capital gain - LLP created after conversion of Limited Company into LLP - The capital losses said to have been incurred by the assessee are only notional and introduced artificially. Authorities below rightly disallowed the same. - AT

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Artificial capital gains loss - colourable device to evade tax - ...

Case Laws Income Tax

October 20, 2023

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