Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 December 2011
Shares are transferred without adequate consideration to a relative not to the persons as defined in the Income Tax Act.
Can the transferor claim loss under the head capital gains.
Transferee shall be any way taxed under the head income from other sources .
Please clarify.
Thanks
Can the transferor claim loss under the head capital gains.
Transferee shall be any way taxed under the head income from other sources .
Please clarify.
Thanks
26 December 2011
Dear Sir.
If the transaction has malafide interest it will be still be clubed through different ways one of them is by applying landmark case of McDowell
If the transaction has malafide interest it will be still be clubed through different ways one of them is by applying landmark case of McDowell
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