Long-Term Capital Loss on Group Share Sale Allowed: ITAT Mumbai Upholds ₹183 Cr LTCL

ACIT Vs Shapoorji Pallonji Solar Holdings Pvt. Ltd. (ITAT Mumbai)

Long-Term Capital Loss on Group Share Sale Allowed: ITAT Mumbai Upholds ₹183 Cr LTCL in Shapoorji Pallonji Solar Case

The Mumbai Bench of the ITAT dismissed the Revenue’s appeal for AY 2021-22 and upheld the order of the CIT(A) allowing the assessee’s claim of long-term capital loss (LTCL) of ₹183.00 crore arising from sale of shares in group companies by Shapoorji Pallonji Solar Holdings Pvt. Ltd.

The Tribunal noted that the As

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