Wednesday 8 October 2014

Losses arising from sale of shares of affiliates couldn’t be doubted it was incurred due to commerci

IT : Where assessee sold shares of a company at a price quoted at stock exchange whereas shares of sister concern were sold at loss because said company was in red, there being no doubt about genuineness of share transactions, assessee's claim for set off of loss arising from sale of shares of sister concern against income arising from shares of other company was to be allowed


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