CIT vs. Wallfort Shares & Stocks
Last updated: 23 October 2008
Court :
Bombay High Court
Brief :
(i) S. 94(7) was inserted prospectively w.e.f. 1.4.2002 to disallow dividend stripping losses. If the argument of the Revenue that even transactions prior to s. 94(7) can be disallowed is accepted, it will render s. 94(7) redundant and also lead to anomalous results
Citation :
Yet to report
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Taxguy
Published in Income Tax
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