44 results for “capital gains”+ Section 74clear
Sorted by relevance
Key Topics
Showing 1–20 of 44 · Page 1 of 3
In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed
Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal
capital and any loss on account of the same cannot be claimed to be revenue expenditure. The ld.CIT-DR also drew our attention towards relevant para 7 of the assessment order and submitted that the CBDT Circular No.3/2010 dated 23.03.2010 clearly states that the notional loss/contingent loss which are worked out basing on the market closing date are not allowable