Loss from Equity Shares eligible to deduct as a Business Loss: ITAT [Read Order]

equity shares - deduct - business loss - ITAT - taxscan

While considering various grounds in an appeal, the Chennai bench of the Income Tax Appellate Tribunal (ITAT)has held that loss from equity shares is eligible to deduct as business loss. The assessee, Seshasayee Paper and Boards Ltd challenged the order of the commissioner of income tax (appeals) on various grounds. The AO during assessment proceedings…

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Seshasayee Paper and Boards Ltd vs The JCIT

Counsel for Appellant:   Shri G. Baskar

Counsel for Respondent:   Shri P. Sajit Kumar

CITATION:   2022 TAXSCAN (ITAT) 1147

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