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
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