ITAT Delhi Allows Carry Forward of Capital Loss on Sale of Shares Despite Section 10(38) Exemption

Sahara India Corp Investment Ltd. Vs ACIT (ITAT Delhi)

Sahara India NBFC’s Share Loss Not Business Loss, Yet Eligible for Set-Off in Future -Accounting Classification Decides Nature of Loss, Not NBFC Status

Assessee, an NBFC engaged in financing, claimed ₹5.00 crore loss on sale of Pipavav Defence & Offshore Engineering Co. Ltd. shares as business loss. AO held it as capital loss, since shares were reflected as non-current investments in balance sheet, not as stock-in-trade, & we

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