Between 1982 and 1984, I purchased shares of some newly floated companies through initial public offers and some other companies through broker. All the stocks were listed in the stock exchanges and were transacted. Now these are not traded on the bourses and the companies are not sending financial accounts. I have no information about these companies.
Is it possible to treat these investments as loss and set off from short-term and long-term capital gains that I have earned during the year? Is indexation possible? If not what is the remedy? Am I to carry these dead stocks in my income-tax return till my death?
Section 45 of the Income Tax Act, 1961, postulates computation of a capital gain or capital loss when there is
