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renunciation of rights with related companies of the same group. These incestuous transactions were for no other business purpose but to contrive a loss

Assisstant Commissioner Of Income Tax, ... vs Om Prakash Arora, Connaught Place on 9 January, 2026

Om Prakash Arora,Connaught Place vs Assisstant Commissioner Of Income Tax, ... on 9 January, 2026

amount of loss artificially created out of incestuous transaction made by the assessee. The profits on sale of STT paid shares(ON market) is exempted