Monday, November 9, 2020

AO can't disallow loss in trading from stock option solely on basis of interim order of SEBI

INCOME TAX : Where there were no material available with authorities below so as to conclude that assessee had entered into any dubious or other transactions deliberately to show business loss, disallowance of loss in trading from stock option could not have been disallowed by Assessing Officer solely on basis of interim order of SEBI alleging that certain entities were deliberately making repeated losses through their trading in stock option

from www.taxmann.com Latest Case Laws https://ift.tt/3lcIZRr

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...