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2007 (9) TMI 291 - AT - Income Tax

The Appellate Tribunal ITAT BOMBAY-J dismissed the Revenue's appeal regarding a loss on derivative trading for the assessment year 2001-02. The CIT(A) ruled that derivative trading does not qualify as speculation loss as it does not involve purchase or sale of shares. The appeal was dismissed, upholding the CIT(A)'s decision.

 

 

 

 

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