| Originally posted by : Samantha J | ||
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Since the debit is on account of court order you cannot claim loss as they have been extinguished not transferred to result in loss. |  |
I doubt if the Supreme Court explicitly mentioned in their order that the shares be deleted from shareholder demat accounts. SC does not do that.
| Originally posted by : Samantha J | ||
|
Since the debit is on account of court order you cannot claim loss as they have been extinguished not transferred to result in loss. | |
I doubt if the Supreme Court explicitly mentioned in their order that the shares be deleted from shareholder demat accounts. SC does not do that.
Isn't it extinguishment of right/title which is also included in definition of transfer and hence long term capital loss should be allowed?
| Originally posted by : Rocks Parss | ||
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Isn't it extinguishment of right/title which is also included in definition of transfer and hence long term capital loss should be allowed? | |
Definition of Transfer may stand true only if there was a "buyback" by the company itself. Here there is no buyback. A Corporate Action was issued by the company to delete all Essar Steel shares from the demat accounts. So there is no sale, no transfer and no buyback.
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