2014 (10) TMI 36

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..... ssessee with connected/interested parties so as to create an artificial loss – Held that:- The AO discussed the entire issue with regard to the Commodity Future Trading and at the end, the AO disallowed the loss on trading of F&O - there was absence of any reasons while disallowing such loss – CIT(A) and Tribunal both of them was of the view that there was no reason for rejection of claim for loss .....

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..... rading of Future Options of ₹ 14,03,442/- incurred by the Assessee in the course of its business by ignoring the facts as brought on record by the Assessing Officer which were based on close analysis of the seized material suggesting that there was a collusion by the assessee with connected/interested parties so as to create an artificial loss ? 2. On having heard the learned Senior St .....

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..... n the matter travelled to the Tribunal, it concurred with the findings of the Commissioner (Appeals) holding that absence of any reasons has justified the reversal of disallowance on the part of the Commissioner (Appeals). 4. We notice that the submission made by the learned counsel for the appellant that even if it is believed that no reasons have been assigned by any of the authorities, the m .....

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