Court held that Loss incurred on account of sale of shares to sister concern is neither fraudulent nor colourable device .Allowable as capital loss. No question of law. (AY. 2002 -03)
CIT v. Parry and Co. Ltd. (2019) 415 ITR 45 (Mad.)(HC)
S. 45 : Capital gains-Capital loss-Loss incurred on account of sale of shares to sister concern-Neither fraudulent nor colourable device-Allowable as capital loss. [S. 260A]