Asstt. Commissioner of Income Tax And Others Versus M/s. Max India Limited And Others - Income Tax - Case Laws

Asstt. Commissioner of Income Tax And Others Versus M/s. Max India Limited And Others - Income Tax - ITAT AMRITSAR - Tri - Conversion of shares from stock-in-trade to Investments - Business loss or speculation loss - revenue contended that conversion of shares having been made to avoid application of Explanation to section 73 - Held that - The bonafides of the assessee are demonstrated by the fact that only 1/3rd of the shares converted into investments only part of the shares so converted were ................................... Income Tax - Case Laws